Higher grain markets Monday
Following the overnight trade, the CME Group corn, soybeans and wheat prices could see a higher start Monday.
The Early Calls for the commodities on Monday, January 23, 2012, are higher. Corn is seen opening 4-6 cents higher, soybeans 12-14 cents higher, and wheat 6-8 cents higher.
In overnight trading, the March corn futures contract traded 6 1/2 cents higher at $6.18 per bushel. March soybean futures traded 15 1/2 cents higher at $12.02 per bushel, and March wheat traded 6 1/2 cents higher at $6.17. For March soybean meal futures, the contract traded $5.40 per short ton higher at $317.30 March soybean oil futures traded $0.56 higher at $50.99.
The outside markets are favorable for Monday's grain trade. The real factors driving the calls will be the higher overnight markets.