Farm markets seen mixed Thursday
The CME Group's corn, soybean and wheat markets are expected to follow the mixed, overnight trading Thursday.
The Early Calls for the commodities on Thursday, May 9, 2013, are mostly lower. Corn is seen opening 1-2 cents lower, soybeans 2-4 cents higher, and wheat 1-2 cents lower.
In overnight trading, the July corn futures contract traded 1 cent lower at $6.32 per bushel. The Dec. corn futures traded 1 cent lower at $5.31.
July soybean futures traded 3 cents higher at $13.94 per bushel, while Nov. soybeans traded 1 cent higher at $12.15.
The July wheat traded 1 cent lower at $7.05. For July soybean meal futures, the contract traded $0.90 per short ton higher at $408.50. The July soybean oil futures traded $0.10 higher at $48.92.
The outside markets are unfavorable for Thursday's grain trade. The real factors driving the calls will be the lower overnight markets.
On Thursday, the USDA will release its weekly export sales figures. On Friday, the USDA will release its monthly Supply/Demand Report at 11:00am CT.