Higher farm markets seen Friday
DES MOINES, Iowa (Agriculture.com)--On Friday, the CME Group corn, wheat and soybean markets are expected to be higher.
The early calls for the commodities on Friday, February 15, 2013, are higher. Corn is seen opening 4-6 cents higher. Soybeans are seen 6-8 cents higher and wheat 8-10 cents higher.
In overnight trading, the March corn futures contract traded 6 cents higher at $7.00 per bushel. March soybean futures traded 6 cents higher at $14.24 per bushel, and March wheat traded 8 cents higher at $7.40. For March soybean meal futures, the contract traded $2.40 per short ton higher at $409.60. March soybean oil futures traded $0.16 cent higher at $51.86.
The outside markets are unfavorable for Friday's grain trade. The real factors driving the calls will be the higher overnight markets.