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Farm markets lean slightly higher

07/17/2013 @ 7:21am

On Wednesday, the CME Group's corn, soybean, and wheat markets lean a bit higher.


The early calls for the commodities on Wednesday, July 17, 2013, are higher. Corn is seen opening 1 to 2 cents higher, soybeans 1 to 2 cents higher, and wheat 3 to 5 cents higher.


In overnight trading, the Sept. corn futures contract traded 1 cent higher at $5.46 per bushel. Dec. corn futures traded 1 cent higher at $5.11 per bushel. Aug. soybean futures traded 1 cent higher at $14.76, while the Nov. soybean futures traded 1 cent higher at $12.87. The Sept. wheat futures contract traded 3 cents higher at $6.72. For Dec. soybean meal futures, the contract traded 10 cents per short ton lower at $388.50; Dec. soybean oil futures traded 11 cents higher at $45.39.


The outside markets are unfavorable for Wednesday's grain trade. The real factors driving the calls will be the higher overnight markets.


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

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