Lower farm markets for Friday
The CME Group corn, soybean and wheat markets are positioning themselves for a weaker open Friday, due to lower overnight trading.
The Early Calls for the commodities on Friday, August 3, 2012, are lower. Corn is seen opening 5-7 cents lower, soybeans 5-7 cents lower, and wheat 3-4 cents higher.
In overnight trading, the Sep. corn traded 4 cents lower at $7.90 per bushel, while the Dec. contract traded 5 cents lower at $7.90 3/4. Nov. soybean futures traded 6 cents lower at $16.10 1/2 per bushel. Sep. wheat futures traded 3 cents higher at $8.68.
The outside markets are favorable for Friday's grain trade. The real factors driving the calls will be the lower overnight markets.