Mixed grain, soy prices Wednesday
With Friday's WASDE Report approaching, mixed CME Group corn, soybean and wheat markets can be expected today.
The Early Calls for the commodities on Wednesday, March 7, 2012, are mostly higher.
Corn and soybeans are seen opening 2-3 cents higher and wheat 1-2 cents lower.
In overnight trading, the May corn futures contract traded 1/4 of a cent higher at $6.54 1/4 per bushel. May soybean futures traded 1 cent higher at $13.36 3/4 per bushel, and May wheat traded 1 1/2 cents lower at $6.56 1/4. For May soybean meal futures, the contract traded $1.60 per short ton lower at $364.30. May soybean oil futures traded $0.41 higher at $53.69.
The outside markets are favorable for Wednesday's grain trade. The real factors driving the calls will be the mostly higher overnight markets.