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Corn, soybeans to trade higher

Updated: 12/13/2011 @ 8:06am

Favorable outside markets and overnight grain trading makes for a supportive environment for a higher opening for the CME Group corn, soybean and wheat prices Tuesday.

The Early Calls for the commodities on Tuesday, December 13, 2011, are higher. Corn, soybeans are seen opening 3-4 cents higher and wheat 5-7 cents higher.

In overnight electronic trading, the March corn futures contract traded 2 cents higher at $5.96 per bushel. The Jan. soybean futures contract traded 2 1/2 cents higher at $11.14 1/2 per bushel. The March wheat futures contract traded 5 1/2 cents higher at $5.99 3/4. For Jan. soymeal futures, the contract traded $0.10 per short ton higher at $280.50 and Jan. soyoil $0.13 higher at $49.45. 

The outside markets are helpful for Tuesday's grain trade. The real factors driving the calls will be the higher overnight markets.

Discuss the CME Group's announcement of switching to all electronic settlement prices in Marketing Talk.

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