Lower farm markets seen Monday
The CME Group commodities are expected to start the final day of the year lower Friday.
The early calls for the commodities on Monday, December 31, 2012, are lower. Corn is seen opening 4-6 cents lower. Soybeans are seen 10-12 cents lower and wheat 9-10 cents lower.
In overnight trading, the March corn futures contract traded 4 cents lower at $6.89 per bushel. January soybean futures traded 12 cents lower at $14.12 per bushel, and March wheat traded 9 cents lower at $7.69. For January soybean meal futures, the contract traded $4.20 per short ton lower at $423.50. January soybean oil futures traded 47 cents lower at $48.47.
The outside markets are not favorable for Monday's grain trade. The real factors driving the calls will be the lower overnight markets.