Lower corn, soybean markets seen Wednesday
U.S. harvest activity is expected to keep the CME Group corn, soybean and wheat markets lower Wednesday.
The Early Calls for the commodities on Wednesday, September 26, 2012, are lower. Corn is seen opening 9-11 cents lower, soybeans 18-20 cents lower, and wheat 7-9 cents lower.
In overnight trading, the Dec. corn futures contract traded 9 cents lower at $7.34 per bushel. Nov. soybean futures traded 22 cents lower at $15.89 per bushel, and Dec. wheat traded 9 cents lower at $8.77. For Dec. soybean meal futures, the contract traded $4.90 per short ton lower at $483.20. Dec. soybean oil futures traded $0.89 lower at $52.64.
The outside markets are unfavorable for Wednesday's grain trade. The real factors driving the calls will be the lower overnight markets.