Grains to start slightly higher Monday
On Monday, the CME Group's corn and wheat markets are expected to start mostly higher.
The early calls for the commodities on Monday, November 11, 2013, are slightly higher. Corn is seen opening 1 to 2 cents higher, soybeans 5 to 7 cents lower, and wheat 1 to 2 cents higher.
In overnight trading, the Dec. corn futures traded 2 1/2 cents higher at $4.29 per bushel. The Nov. soybean futures traded 8 cents lower at $12.97. The Dec. wheat futures contract traded 2 cents higher at $6.51. For Dec. soybean meal futures, the contract traded $2.20 per short ton lower at $420.10; Dec. soybean oil futures traded $0.02 lower at $40.22.
The outside markets are favorable for Monday's grain trade. The real factors driving the calls will be the lower overnight markets.