Farm markets to rise slightly Tuesday
The CME Group corn, soybean, and wheat markets are poised to start mixed, following mostly only slightly higher overnight prices Tuesday.
The early calls for the commodities on Tuesday, August 6, 2013, are mixed. Corn is seen opening 2 to 4 cents higher, soybeans 1 to 2 cents higher, and wheat 1 to 2 cents higher.
In overnight trading, the Sep. corn traded 3 cents higher at $4.72 per bushel, while the Dec. contract traded 1 cent lower at $4.59. Aug. soybean futures traded 1 cent higher at $13.30 per bushel, while the Nov. soybean futures are 7 cents lower at $11.76. Sep. wheat futures traded 3 cents higher at $6.47.
The outside markets are slightly favorable for Tuesday's grain trade. The real factors driving the calls will be the mostly higher overnight markets.