Mixed corn, soybean markets expected
Just as some analysts predicted, today's CME Group corn, soybean, and wheat trading could trend lower, due to the shortened holiday week.
The early calls for the commodities on Tuesday, November 20, 2012, are mixed. Corn is seen opening mixed, soybeans 2 to 4 cents lower, and wheat 1 to 2 cents higher.
In overnight trading, the December corn futures contract traded unchanged at $7.38 per bushel. January soybean futures traded 2 1/2 cents lower at $13.92 per bushel, and December wheat traded 1 1/2 cents higher at $8.43. For December soybean meal futures, the contract traded $1.00 per short ton lower at $419.00. December soybean oil futures traded .06 cents higher at $48.28.
The outside markets are favorable for Tuesday's grain trade. The real factors driving the calls will be the mixed overnight markets.