Farm markets to sell-off
The CME Group's corn, soybean, and wheat markets are expected to start lower Thursday.
The early calls for the commodities on Thursday, June 20, 2013, are lower. Corn is seen opening 6 to 8 cents lower, soybeans 10 to 12 cents lower, and wheat 10 to 12 cents lower.
In overnight trading, the July corn futures contract traded 6 cents lower at $6.76 per bushel. The December corn futures traded 8 cents lower at $5.62. July soybean futures traded 10 cents lower at $15.12 per bushel, while November soybeans traded 13 cents lower at $12.97. The July wheat traded 11 cents lower at $6.95. For July soybean meal futures, the contract traded $2.40 per short ton lower at $451.20. The July soybean oil futures traded 42 cents lower at $48.88.
The outside markets are unfavorable for Thursday's grain trade.