Corn, soybeans to trade higher Monday
The CME Group corn, soybean and wheat markets have strong support for higher trading Monday.
The Early Calls for the commodities on Monday, February 13, 2012, are higher. Corn is seen opening 5-7 cents higher, soybeans and wheat 9-11 cents higher.
In overnight trading, the March corn futures contract traded 5 cents higher at $6.36 3/4 per bushel. March soybean futures traded 9 1/2 cents higher at $12.38 1/2 per bushel, and March wheat traded 9 cents higher at $6.39. For March soybean meal futures, the contract traded $2.70 per short ton higher at $322.70. March soybean oil futures traded $0.26 higher at $52.79.
The outside markets are favorable for Monday's grain trade. The real factors driving the calls will be the higher overnight markets.