Lower corn, soybean markets seen Friday
On Friday, the CME Group's corn, soybean, and wheat markets are expected to start lower.
The early calls for the commodities on Friday, September 13, 2013, are lower. Corn is seen opening 1 to 2 cents lower, soybeans 1 to 2 cents lower, and wheat 1 to 2 cents lower.
In overnight trading, the Dec. corn futures traded 2 cents lower at $4.64 per bushel. The Nov. soybean futures traded 1 cent lower at $13.95. The Dec. wheat futures contract traded 5 cents lower at $6.47. For Dec. soybean meal futures, the contract traded $0.80 per short ton lower at $448.00; Dec. soybean oil futures traded $0.22 lower at $42.81.
The outside markets are unfavorable for Friday's grain trade. The real factors driving the calls will be the lower overnight markets.