Monday's farm markets seen higher
The CME Group commodities have a strong overnight market to use to start double-digit higher Monday.
The early calls for the commodities on Monday, January 14, 2013, are higher. Corn is seen opening 10-12 cents higher. Soybeans are seen 16-18 cents higher and wheat 12-14 cents higher.
In overnight trading, the March corn futures contract traded 13 cents higher at $7.22 per bushel. March soybean futures traded 20 cents higher at $13.93 per bushel, and March wheat traded 15 cent higher at $7.70. For January soybean meal futures, the contract traded $4.50 per short ton higher at $408.80. Jan. soybean oil futures traded $0.59 cents higher at $49.83.
The outside markets are unfavorable for Monday's grain trade. The real factors driving the calls will be the higher overnight markets.