Mixed farm markets Tuesday
The CME Group corn, soybean and wheat markets could be caught up in mixed trading Tuesday.
The Early Calls for the commodities on Tuesday, February 14, 2012, are mostly lower. Corn is seen opening 2-4 cents lower, soybeans 3-5 cents higher and wheat 3-5 cents lower.
In overnight trading, the March corn futures contract traded 2 3/4 cents lower at $6.36 3/4 per bushel. March soybean futures traded 3 1/2 cents higher at $12.55 1/2 per bushel, and March wheat traded 4 cents lower at $6.37 1/4. For March soybean meal futures, the contract traded $0.40 per short ton lower at $330.10. March soybean oil futures traded $0.03 lower at $53.02.
The outside markets are favorable for Tuesday's grain trade. The real factors driving the calls will be the mostly lower overnight markets.