Farm markets to shoot 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 7, 2013, are stronger. Corn is seen opening 2 to 4 cents higher, soybeans 12 to 14 cents higher, and wheat 1 to 2 cents higher.
In overnight trading, the July corn futures contract traded 1 cent higher at $6.64 per bushel. The December corn futures traded 4 cents higher at $5.52. July soybean futures traded 12 cents higher at $15.39 per bushel, while November soybeans traded 15 cents higher at $13.20. The July wheat traded 2 cents higher at $6.99. For July soybean meal futures, the contract traded $4.20 per short ton higher at $458.20. The July soybean oil futures traded 27 cents higher at $48.43.
The outside markets are mostly favorable for Friday's grain trade.