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Corn, soybeans to start October mixed

10/01/2012 @ 8:02am

After hitting 'limit up' to end last week, the CME Group corn market is expected to extend its gains Monday. 

The Early Calls for the commodities on Monday, October 1, 2012, are mostly lower. Corn is seen opening 4-6 cents higher, soybeans 10-12 cents lower. Wheat is seen opening 8-10 cents lower.  

In overnight trading, the Dec. corn futures contract traded 4 cents higher at $7.60 per bushel. Nov. soybean futures traded 14 cents lower at $15.86 per bushel, and Dec. wheat traded 10 cents lower at $8.92. For Dec. soybean meal futures, the contract traded $3.70 per short ton lower at $483.20. Dec. soybean oil futures traded $0.72 lower at $57.94.

The outside markets are unfavorable for Monday's grain trade. The real factors driving the calls will be the mostly lower overnight markets.

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