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Corn, wheat seen trading higher Thursday

01/10/2013 @ 7:13am

The CME Group commodities have a strong chance to trade higher Thursday, depending upon this morning's USDA Weekly Export Sales Report at 7:30am CT and more positioning ahead of tomorrow's USDA Reports. 

The early calls for the commodities on Thursday, January 10, 2012, are mostly higher. Corn is seen opening 3-5 cents higher. Soybeans are seen mixed and wheat 4-6 cents higher.

In overnight trading, the March corn futures contract traded 3 cents higher at  $6.97 per bushel. January soybean futures traded 1 cent lower at $14.18 per bushel, and March wheat traded 7 cents higher at $7.53. For January soybean meal futures, the contract traded $0.70 per short ton higher at $411.30. Jan. soybean oil futures traded $0.10 cents higher at $49.22. 

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

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

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