Mixed farm markets seen Wednesday
DES MOINES, Iowa (Agriculture.com)--The CME Group corn, soybean markets are seen mixed Wednesday.
The early calls for the commodities on Wednesday, March 6, 2013, are mostly lower. Corn is seen opening 1-2 cents lower. Soybeans are seen 1-2 cents higher and wheat 2-4 cents lower.
In overnight trading, the May corn futures contract traded 1 cent lower at $7.07 per bushel. May soybean futures traded 1 cent higher at $14.68 per bushel, and May wheat traded 4 cents lower at $7.02. For March soybean meal futures, the contract traded $0.10 per short ton higher at $436.00. May soybean oil futures traded $0.11 cents higher at $50.24.
The outside markets are unfavorable for Wednesday's grain trade. The real factors driving the calls will be the mostly lower overnight markets.