Higher corn, soybean markets Monday
The CME Group corn, soybean and wheat markets can be expected to trade sharply higher Monday.
The Early Calls for the commodities on Monday, June 4, 2012, are higher. Corn is seen opening 10-12 cents higher, soybeans 7-8 cents higher, and wheat 10-12 cents higher.
In overnight trading, the July corn futures contract traded 14 cents higher at $5.65 per bushel. July soybean futures traded 7 3/4 cents higher at $13.52 per bushel, and July wheat traded 12 cents higher at $6.24 1/4. For July soybean meal futures, the contract traded $7.40 per short ton higher at $401.90. July soybean oil futures traded $0.42 lower at $48.17.
The outside markets are unfavorable for Monday's grain trade. The real factors driving the calls will be the sharply higher.