Corn, soybeans to trade higher Tuesday
DES MOINES, Iowa (Agriculture.com)--A higher trading day is seen for the CME Group farm markets Tuesday.
The early calls for the commodities on Tuesday, March 19, 2013, are higher. Corn is seen opening 4-6 cents higher. Soybeans are seen 3-5 cents higher and wheat 2-4 cents higher.
In overnight trading, the May corn futures contract traded 4 cents higher at $7.24 per bushel. May soybean futures traded 3 cents higher at $14.13 per bushel, and May wheat traded 2 cents lower at $7.15. For May soybean meal futures, the contract traded $0.60 per short ton higher at $413.90. May soybean oil futures traded $0.08 cents higher at $49.76.
The outside markets are unfavorable for Tuesday's grain trade. The real factors driving the calls will be the higher overnight markets.