Lower farm markets Friday
The CME Group corn, soybean and wheat markets are poised to trade lower Friday.
The Early Calls for the commodities on Friday, February 10, 2012, are lower. Corn is seen opening 2-4 cents lower, soybeans and wheat 7-9 cents lower.
In overnight trading, the March corn futures contract traded 4 cents lower at $6.33 per bushel. March soybean futures traded 8 1/2 cents lower at $12.19 per bushel, and March wheat traded 7 3/4 cents lower at $6.38 1/4. For March soybean meal futures, the contract traded $3.40 per short ton lower at $317.60. March soybean oil futures traded $0.27 lower at $52.27.
The outside markets are not favorable for Friday's grain trade. The real factors driving the calls will be the lower overnight markets.