Higher start seen for corn, soybeans Monday
DES MOINES, Iowa (Agriculture.com)--To start the week, the CME Group corn, soybean markets seen slightly higher Monday.
The early calls for the commodities on Monday, March 4, 2013, are mostly higher. Corn is seen opening 1-2 cents higher. Soybeans are seen 2-4 cents higher and wheat 1-2 cents lower.
In overnight trading, the March corn futures contract traded 1 cent higher at $7.24 per bushel. March soybean futures traded 2 cents higher at $14.66 per bushel, and March wheat traded 1 cent lower at $7.12. For March soybean meal futures, the contract traded $0.30 per short ton lower at $427.00. March soybean oil futures traded $0.032 cents higher at $49.50.
The outside markets are unfavorable for Monday's grain trade. The real factors driving the calls will be the mostly higher overnight markets.