Higher corn, soybean markets seen for Tuesday
On Tuesday, the CME Group's corn, soybean, and wheat markets are expected to start higher.
The early calls for the commodities on Tuesday, December 11, 2013, are higher. Corn is seen opening 1 to 2 cents higher, soybeans 3 to 5 cents higher, and wheat 1 to 2 cents higher.
In overnight trading, the March corn futures contract traded 3/4 cent higher at $4.36 per bushel. January soybean futures traded 3 1/4 cents higher at $13.41. The March wheat futures contract traded 1 1/4 cents higher at $6.40. For Jan. soybean meal futures, the contract traded $1.50 per short ton higher at $439.80; Jan. soybean oil futures traded $0.19 higher at $40.30.
The outside markets are favorable for Tuesday's grain trade. The real factors driving the calls will be the higher overnight markets.