Grain markets to start lower
Unfavorable outside markets and overnight grain trading will create a lower opening for the CME Group corn, soybean and wheat prices Monday.
The Early Calls for the commodities on Monday, December 12, 2011, are lower. Corn, soybeans and wheat are all seen opening 5-7 cents lower.
In overnight electronic trading, the March corn futures contract traded 5 1/4 cents lower at $5.88 per bushel. The Jan. soybean futures contract traded 5 1/2 cents lower at $11.01 1/2 per bushel. The March wheat futures contract traded 4 cents lower at $5.92. For Jan. soymeal futures, the contract traded $0.10 per short ton lower at $276.80 and Jan. soyoil $0.51 lower at $49.09.
The outside markets are unfavorable for Monday's grain trade. The real factors driving the calls will be the lower overnight markets.