Mixed farm markets for Thursday
The CME Group's corn, soybean, and wheat markets are expected to start mixed Thursday.
The early calls for the commodities on Thursday, May 23, 2013, are mostly mixed. Corn is seen opening 1 to 2 cents lower, soybeans mixed, and wheat 3 to 5 cents higher.
In overnight trading, the July corn futures contract traded 2 cents lower at $6.57 per bushel. The December corn futures traded 2 cents lower at $5.28. July soybean futures traded 3 cents higher at $14.96 per bushel, while November soybeans traded 1 cent lower at $12.38. The July wheat traded 5 cents higher at $6.93. For July soybean meal futures, the contract traded $1.10 per short ton lower at $439.50. The July soybean oil futures traded 12 cents lower at $49.52.
The outside markets are mostly unfavorable for Thursday's grain trade. The real factors driving the calls will be the mixed overnight markets.
On Thursday, the USDA will release its Weekly Export Sales Report at 7:30 a.m. CT.