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Grain and soybean markets seen higher

01/16/2013 @ 7:48am

For Wednesday, the bulls are still chewing on last week's USDA data that is expected to support higher CME Group corn , soybean and wheat markets.

The early calls for the commodities on Wednesday, January 16, 2013, are higher. Corn is seen opening 2-4 cents higher. Soybeans are seen 4-6 cents higher and wheat 5-7 cents higher.

In overnight trading, the March corn futures contract traded 2 cents higher at  $7.33 per bushel. March soybean futures traded 8 cents higher at $14.21 per bushel, and March wheat traded 5 cents higher at $7.88. For March soybean meal futures, the contract traded $2.60 per short ton higher at $414.50. March soybean oil futures traded $0.02 cents higher at $50.89. 

The outside markets are unfavorable for Wednesday'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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