Corn, wheat seen trading higher Wednesday
DES MOINES, Iowa (Agriculture.com)--The CME Group corn and wheat markets are poised for a higher trading session Wednesday. Soybeans are seen falling.
The early calls for the commodities on Wednesday, April 3, 2013, are mostly higher.
In overnight trading, the May corn futures contract traded 2 cents higher at $6.42 per bushel. May soybean futures traded 5 cents lower at $13.88 per bushel, and May wheat traded 9 cents higher at $6.80. For May soybean meal futures, the contract traded $2.30 per short ton lower at $399.80. May soybean oil futures traded $0.04 cents higher at $49.63.
The outside markets are unfavorable for Wednesday's grain trade. The real factors driving the calls will be the mostly higher overnight markets.