Farm markets to dip Thursday
DES MOINES, Iowa (Agriculture.com)—A mostly lower trading day is expected for the CME Group farm markets Thursday.
The early calls for the commodities on Thursday, March 14, 2013, are mixed. Corn is seen opening 1-2 cents lower. Soybeans are seen 3-5 cents lower and wheat 1-2 cents higher.
In overnight trading, the May corn futures contract traded 1 cent lower at $7.09 per bushel. May soybean futures traded 5 cents lower at $14.41 per bushel, and May wheat traded 2 cents higher at $7.12, For May soybean meal futures, the contract traded $1.50 per short ton lower at $427.40. May soybean oil futures traded $0.29 cents lower at $49.23.
The outside markets are mostly unfavorable for Thursday's grain trade. The real factors driving the calls will be the lower overnight markets. Also, the USDA releases its weekly Export Sales Report Thursday.