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Corn to trade over all-time high

07/19/2012 @ 8:43am

The CME Group corn and soybean markets are poised to extend gains, following hitting all-time high record prices overnight Thursday. 

The Early Calls for the commodities on Thursday, July 19, 2012, are sharply higher. Corn is seen opening 13-15 cents higher, soybeans 32-34 cents higher, and wheat 13-15 cents higher.

In overnight trading, the Sep. corn reached an all-time high of $8.12 per bushel, while the Dec. contract traded 12 3/4 cents higher at $7.97. As the Aug. soybean futures hit an all-time high of $17.23, the Nov. soybean futures traded 29 cents higher at $16.49 per bushel. Sep. wheat futures traded 15 3/4 cents higher at $9.19.

The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the sharply higher overnight markets.

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

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