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Corn, soybeans to start slightly higher

Updated: 05/13/2013 @ 10:11am

The CME Group's corn, soybean, and wheat markets are expected to start slightly higher-to-mixed Monday.

The early calls for the commodities on Monday, May 13, 2013, are slightly higher. Corn is seen opening 1 to 2 cents higher, soybeans mixed, and wheat 1 to 2 cents higher.

In overnight trading, the July corn futures contract traded 2 cents higher at $6.39 per bushel. The December corn futures traded 1 cent higher at $5.31. July soybean futures traded 2 cents higher at $14.01 per bushel, while November soybeans traded 1 cent lower at $12.04. The July wheat traded 2 cents higher at $7.06. For July soybean meal futures, the contract traded $1.30 per short ton higher at $408.10. The July soybean oil futures traded 9 cents lower at $49.14.

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

Discuss the corn, soybean, and wheat markets in Marketing Talk.

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