Corn, wheat to seek higher trades
On Tuesday, the CME Group's corn and wheat markets are expected to start higher, soybeans lower.
The early calls for the commodities on Tuesday, November 19, 2013, are mostly higher. Corn is seen opening 2 to 4 cents higher, soybeans 2 to 4 cents lower, and wheat 4 to 6 cents higher.
In overnight trading, the Dec. corn futures contract traded 2 1/4 cents higher at $4.14 per bushel. The January soybean futures traded 2 cents lower at $12.85. The Dec. wheat futures contract traded 4 cents higher at $6.46. For Dec. soybean meal futures, the contract traded $0.50 per short ton higher at $416.30; Dec. soybean oil futures traded $0.15 lower at $39.96.
The outside markets are unfavorable for Tuesday's grain trade. The real factors driving the calls will be the slightly higher overnight markets.