Farm markets seen mixed Tuesday
DES MOINES, Iowa (Agriculture.com)--On Tuesday, the CME Group corn, soybean and wheat markets are mixed.
The early calls for the commodities on Tuesday, February 26, 2013, are mostly higher. Corn is seen opening 4-6 cents higher. Soybeans are seen 3-5 cents lower and wheat 1-2 cents higher.
In overnight trading, the March corn futures contract traded 4 cents higher at $6.97 per bushel. March soybean futures traded 3 cents lower at $14.48 per bushel, and March wheat traded 1 cent higher at $7.00. For March soybean meal futures, the contract traded $0.60 per short ton higher at $426.20. March soybean oil futures traded $0.58 cents lower at $49.49.
The outside markets are favorable for Tuesday's grain trade. The real factors driving the calls will be the mostly higher overnight markets.