Falling corn, soybean markets seen Monday
The CME Group corn, soybean and wheat markets have a lower trading session ahead Wednesday.
The Early Calls for the commodities on Monday, October 15, 2012, are sharply lower. Corn is seen opening 13 to 15 cents lower, soybeans 25 to 27 cents lower, and wheat 11 to 12 cents lower.
In overnight trading, the December corn futures contract traded 13 cents lower at $7.39 per bushel. November soybean futures traded 28 cents lower at $14.93 per bushel, and December wheat traded 11 cents lower at $8.45. For December soybean meal futures, the contract traded $8.20 per short ton lower at $457. December soybean oil futures traded $0.86 lower at $49.81.
The outside markets are mixed for Monday's grain trade. The real factors driving the calls will be the sharply lower overnight markets.