Farm markets to start slightly higher
To end the holiday-shortened trading week, the CME Group corn, soybean and wheat markets are seen starting higher, due to a slightly higher overnight market.
In addition, the USDA will release its March Planting Intentions and Quarterly Stocks Reports at 11:00am CT Thursday.
The early calls for the commodities on Thursday, March 28, 2013, are higher. Corn is seen opening 1-2 cents higher. Soybeans are seen unchanged to higher and wheat 1-2 cents higher.
In overnight trading, the May corn futures contract traded 1 cent higher at $7.35 per bushel. May soybean futures traded unchanged at $14.53 per bushel, and May wheat traded 2 cents higher at $7.39. For May soybean meal futures, the contract traded $0.80 per short ton higher at $423.90. May soybean oil futures traded $0.15 cents lower at $50.67.
The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the slightly higher overnight markets.