Farm markets to drop Monday
The CME Group's corn, soybean, and wheat markets are expected to trade lower Monday.
The early calls for the commodities on Monday, June 24, 2013, are lower. Corn is seen opening 6 to 8 cents lower, soybeans 4 to 6 cents lower, and wheat 6 to 8 cents lower.
In overnight trading, the July corn futures contract traded 6 cents lower at $6.55 per bushel. The December corn futures traded 10 cents lower at $5.46. July soybean futures traded 4 cents lower at $14.89 per bushel, while November soybeans traded 13 cents lower at $12.60. The July wheat traded 6 cents lower at $6.92. For July soybean meal futures, the contract traded 90 cents per short ton lower at $446.90. The July soybean oil futures traded 36 cents lower at $47.66.
The outside markets are mostly unfavorable for Monday's grain trade.