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Farm markets to trade higher

07/11/2013 @ 7:02am

With follow-through from overnight markets,  the CME Group corn, soybean, and wheat prices are seen higher Thursday. Keep in mind, the USDA/WASDE monthly Supply/Demand Reports will be released at 11:00am CT Thursday..

The early calls for the commodities on Thursday, July 11, 2013, are higher. Corn is seen opening 5 to 7 cents higher, soybeans 8 to 10 cents higher, and wheat 3 to 5 cents higher.

In overnight trading, the Sept. corn futures contract traded 5 cents higher at $5.59 per bushel. Dec. corn futures traded 4 cents higher at $5.26 per bushel. Aug. soybean futures traded 10 cents higher at $14.74, while the Nov. soybean futures traded 7 cents higher at $12.91. The Sept. wheat futures contract traded 5 cents higher at $6.84. For Aug. soybean meal futures, the contract traded $5.10 per short ton higher at $454.80; Aug. soybean oil futures traded $0.12 higher at $47.14.

The outside markets are mostly favorable for Thursday's grain trade. The real factors driving the calls will be the higher overnight markets.

Discuss the corn, soybean and wheat markets in Marketing Talk.

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