Farm markets to lean higher
The CME Group's corn, soybean, and wheat markets are expected to start higher Friday.
The early calls for the commodities on Friday, June 14, 2013, are mostly stronger. Corn is seen opening 2 to 4 cents higher, soybeans 8 to 10 cents higher, and wheat 2 to 4 cents lower.
In overnight trading, the July corn futures contract traded 4 cents higher at $6.47 per bushel. The December corn futures traded 1 cent lower at $5.35. July soybean futures traded 9 cents higher at $15.19 per bushel, while November soybeans traded 4 cents higher at $13.04. The July wheat traded 4 cents lower at $6.81. For July soybean meal futures, the contract traded $2.80 per short ton higher at $455.40. The July soybean oil futures traded 33 cents higher at $48.17.
The outside markets are unfavorable for Friday's grain trade.