Higher farm markets Wednesday
With support from the overnight markets and a falling U.S. Dollar, the CME Group corn, soybean and wheat markets Wednesday look to reverse the negative action from yesterday's losses.
The Early Calls for the commodities on Wednesday, April 11, 2012, are higher.
Corn is seen opening 3-5 cents higher, soybeans 1-2 cents higher and wheat 6-8 cents higher.
In overnight trading, the July corn futures contract traded 3 3/4 cents higher at $6.29 per bushel. July soybean futures traded 3/4 of a cent higher at $14.28 per bushel, and July wheat traded 7 3/4 cents higher at $6.39 1/2. For July soybean meal futures, the contract traded $0.10 per short ton lower at $390.50. July soybean oil futures traded $0.29 lower at $57.06.
The outside markets are friendly for Wednesday's grain trade. The real factors driving the calls will be the higher overnight markets.