Higher corn, soybean prices Tuesday
The CME Group corn, soybean and wheat markets are poised to trade higher Tuesday.
The Early Calls for the commodities on Tuesday, June 26, 2012, have flipped from lower to higher. Corn is seen opening 8-10 cents higher, soybeans 7-9 cents lower, and wheat 1-2 cents higher.
In overnight trading, the July corn futures contract traded 13 1/4 cents higher at $6.44 1/2 per bushel. July soybean futures traded 10 1/4 cents higher at $14.92 3/4 per bushel, and July wheat traded 1 3/4 cents lower at $7.22 1/2. For July soybean meal futures, the contract traded $1.70 per short ton higher at $434.50. July soybean oil futures traded $0.24 higher at $51.51.
The outside markets are slightly favorable for Tuesday's grain trade. The real factors driving the calls will be the higher overnight markets.