Falling corn, soybean prices Friday
The CME Group corn, soybean and wheat markets are expected to react negatively Friday to lower overnight prices and the news that Russia will not install a grain export ban.
The Early Calls for the commodities on Friday, August 31, 2012, are lower. Corn is seen opening 1-2 cents lower, soybeans 5-7 cents lower, and wheat 7- 9cents lower.
In overnight trading, the Dec. corn traded 1 3/4 cents lower at $8.06 3/4. Nov. soybean futures traded 5 1/4 cents lower at $17.58 1/4 per bushel. Dec. wheat futures traded 7 3/4 cents lower at $8.95.
The outside markets are favorable for Friday's grain trade. The real factors driving the calls will be the lower overnight markets.