Corn, soybeans to start lower Tuesday
On Tuesday, the CME Group's corn, soybean, and wheat markets are expected lower.
The early calls for the commodities on Tuesday, October 29, 2013, are lower. Corn is seen opening 1 to 2 cents lower, soybeans 2 to 4 cents lower, and wheat 1 to 2 cents lower.
In overnight trading, the Dec. corn futures traded 1 cent lower at $4.29 per bushel. The Nov. soybean futures traded 2 1/2 cents lower at $12.68. The Dec. wheat futures contract traded 1/2 cent lower at $6.80. For Dec. soybean meal futures, the contract traded $2.70 per short ton lower at $412.00; Dec. soybean oil futures traded $0.16 higher at $40.52.
The outside markets are unfavorable for Tuesday's grain trade. The real factors driving the calls will be the lower overnight markets.