Mixed farm markets seen Monday
Still digesting the bearish data from Friday's USDA Reports, the CME Group corn, soybean, and wheat markets are seen mixed Monday.
The early calls for the commodities on Monday, July 1, 2013, are mixed. Corn is seen opening 1 to 2 cents lower, soybeans 16 to 18 cents higher, and wheat 3 to 5 cents higher.
In overnight trading, the July corn futures contract traded 1 cent lower at $6.78 per bushel. December corn futures traded 3 cents lower at $5.07 per bushel. July soybean futures traded 18 cents higher at $15.83. The September wheat futures contract traded 2 cents higher at $6.59. For August soybean meal futures, the contract traded $4.30 per short ton higher at $439.20. August soybean oil futures traded 32 cents higher at $46.61.
The outside markets are favorable for Monday's grain trade. The real factors driving the calls will be the mixed overnight markets.