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Lower farm markets seen for Tuesday

04/23/2013 @ 7:49am

DES MOINES, Iowa (Agriculture.com)--The CME Group corn, soybean and wheat markets appear to be headed towards a lower start Tuesday. 

The early calls for the commodities on Wednesday, April 23, 2013, are lower. Corn is seen opening 3-5 cents lower, soybeans 1-2 cents lower, and wheat 6-8 cents lower.

In overnight trading, the July corn futures contract traded 3 cents lower  at $6.20 per bushel. July soybean futures traded 1 cent lower at $13.63 per bushel, and July wheat traded 8 cents lower at $6.94. For July soybean meal futures, the contract traded $0.70 per short ton higher at $398.80. July soybean oil futures traded $0.28 cents lower at $48.31.

The outside markets are unfavorable for Tuesday's grain trade. The real factors driving the calls will be the lower overnight markets.

Discuss the corn, soybean and wheat markets in Marketing Talk.

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