Farm markets to lean lower Friday
DES MOINES, Iowa (Agriculture.com)--A lower trading day is seen for the CME Group farm markets Friday.
The early calls for the commodities on Friday, April 26, 2013, are lower. Corn is seen opening 2 to 4 cents lower. Soybeans are seen steady and wheat 4 to 6 cents lower.
In overnight trading, the July corn futures contract traded 2 cents lower at $6.22 per bushel. July soybean futures traded unchanged at $13.72 per bushel, and July wheat traded 4 cents lower at $6.99. For July soybean meal futures, the contract traded 70 cents per short ton higher at $400.80. July soybean oil futures traded 24 cents lower at $49.24.
The outside markets are unfavorable for Friday's grain trade. The real factors driving the calls will be the lower overnight markets.