Mixed farm markets Monday
Ahead of this week's WASDE Report, the CME Group corn, soybean and wheat markets could remain in a cautious mode. The Early Calls for the commodities on Monday, March 5, 2012, are mostly lower.
Corn is seen opening 3-5 cents higher, soybeans 1-2 cents lower and wheat 1-2 cents lower.
In overnight trading, the May corn futures contract traded 3 cents higher at $6.58 per bushel. May soybean futures traded 1 1/2 cents lower at $13.31 1/2 per bushel, and May wheat traded 1 1/2 cents lower at $6.73. For May soybean meal futures, the contract traded unchanged at $359.10. May soybean oil futures traded $0.12 higher at $54.20.
The outside markets are mildly favorable for Monday's grain trade. The real factors driving the calls will be the slightly lower overnight markets.