Mixed farm markets seen for Thursday
Without bullish weekly export sales, the CME Group corn, soybean and wheat markets are expected to trade mixed Thursday.
The Early Calls for the commodities on Thursday, September 6, 2012, are mostly higher. Corn is seen opening 6-8 cents higher, soybeans 3-5 cents lower, and wheat 10-12 cents higher.
In overnight trading, the Dec. corn futures contract traded 6 1/2 cents lower at $7.97 1/2 per bushel. November soybean futures traded 3 cents lower at $17.44 per bushel, and Dec. wheat traded 13 cents higher at $8.80 3/4. For Dec. soybean meal futures, the contract traded $1.80 per short ton higher at $526.80. Dec. soybean oil futures traded $0.38 lower at $57.59.
The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the mostly higher overnight markets.