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Farm markets to dip

01/04/2012 @ 7:25am

What a difference a day makes. Unlike the first grain trading day of 2012 having full support of fundamental and outside market factors, the CME Group corn, soybeans and wheat prices face price-pressure from unfavorable outside factors Wednesday.

The Early Calls for the commodities on Wednesday, January 4, 2012, are weaker. Corn is seen opening 1-2 cents lower, soybeans 2-4 cents lower, and wheat 3-5 cents lower.

In overnight trading, the March corn futures contract traded 1/4 of a cent lower at $6.58 1/4 per bushel. March soybean futures traded 2 3/4 cents lower at $12.24 3/4 per bushel, and March wheat traded 3 1/2 cents lower at $6.53 1/2. For March soybean meal futures, the contract traded $0.20 per short ton lower at $317.20. March soybean meal futures traded $0.22 lower at $52.89.

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

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

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