Grain trade to start week lower
From follow-through of overnight markets, the CME Group corn, soybean and wheat markets are expected to start lower Monday.
The Early Calls for the commodities on Monday, August 13, 2012, are lower. Corn is seen opening 5-7 cents lower, soybeans 10-15 cents lower, and wheat 10-15 cents lower.
In overnight trading, the Dec. corn futures contract traded 6 1/4 cents lower at $8.02 1/2 per bushel. Nov. soybean futures traded 12 3/4 cents lower at $16.31 per bushel, and Sept. wheat traded 14 cents lower at $8.71. For Dec. soybean oil futures traded $0.38 lower at $54.03.
The outside markets are mostly favorable for Monday's grain trade. The real factors driving the calls will be the lower overnight markets.