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Grain prices to stumble Tuesday

02/07/2012 @ 7:34am

The CME Group corn, soybean and wheat markets have less traction to start Tuesday's trade, as a result of lower overnight prices. The Early Calls for the commodities on Tuesday, February 7, 2012, are lower. Corn is seen opening 2-4 cents lower, soybeans 4-6 cents lower, and wheat 9-11 cents lower.

In overnight trading, the March corn futures contract traded 4 cents lower at $6.40 1/4 per bushel. March soybean futures traded 3 3/4 cents lower at $12.29 1/4 per bushel, and March wheat traded 9 3/4 cents lower at $6.58 3/4. For March soybean meal futures, the contract traded $1.70 per short ton lower at $325.80. March soybean oil futures traded $0.21 lower at $51.95.

The outside markets are not favorable for Tuesday's grain trade. The real factors driving the calls will be the lower overnight markets.

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

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