Mixed grain markets seen Monday
On Monday, the CME Group's corn, soybean, and wheat markets look mixed.
The early calls for the commodities on Monday, July 22, 2013, are mixed to mostly higher. Corn is seen opening 5 to 7 cents lower, soybeans 10 to 12 cents higher, and wheat 1 to 2 cents higher.
In overnight trading, the Sept. corn futures contract traded 5 cents lower at $5.39 per bushel. Dec. corn futures traded 5 cents lower at $4.95 per bushel. Aug. soybean futures traded 14 cents higher at $15.04, while the Nov. soybean futures traded 5 cents higher at $12.78. The Sept. wheat futures contract traded 1 cent higher at $6.65. For Dec. soybean meal futures, the contract traded $1.60 per short ton higher at $384.10; Dec. soybean oil futures traded 18 cents higher at $45.50.
The outside markets are favorable for Monday's grain trade. The real factors driving the calls will be the mixed overnight markets.