Farm markets to trade mostly weaker
On Monday, the CME Group's corn, soybean, and wheat markets are expected to start mostly lower.
The early calls for the commodities on Monday, October 14, 2013, are mostly lower. Corn is seen opening 1 to 2 cents lower, soybeans 3 to 5 cents higher, and wheat 5 to 7 cents lower.
In overnight trading, the Dec. corn futures traded 1 cent lower at $4.32 per bushel. The Nov. soybean futures traded 3 3/4 cents higher at $12.70. The Dec. wheat futures contract traded 5 1/2 cents lower at $6.86. For Dec. soybean meal futures, the contract traded $1.40 per short ton higher at $404.80; Dec. soybean oil futures traded $0.10 higher at $40.38.
The outside markets are favorable for Monday's grain trade. The real factors driving the calls will be the mostly lower overnight markets.