Lower grain markets expected for Friday
On Friday, the CME Group's corn, soybean and wheat markets are expected to start lower.
The early calls for the commodities on Friday, January 17, 2014, are weaker. Corn is seen opening 2-4 cents lower, soybeans 6-8 cents lower, and wheat 1-2 cents lower.
In overnight trading, the March corn futures contract traded 2 cents lower at $4.26 per bushel. The March soybean futures traded 6 cents lower at $13.09. The March wheat futures contract traded 2 cents lower at $5.70. For March soybean meal futures, the contract traded $3.40 per short ton lower at $428.60; March soybean oil futures traded $0.19 lower at $37.86.
The outside markets are unfavorable for Friday's grain trade. The real factors driving the calls will be the lower overnight market