Mostly higher corn, soybean prices seen
The CME Group's corn, soybean, and wheat markets are expected to start higher Tuesday.
The early calls for the commodities on Tuesday, June 11, 2013, are slightly stronger. Corn is seen opening 2 to 4 cents higher, soybeans 8 to 10 cents higher, and wheat 1 to 2 cents lower.
In overnight trading, the July corn futures contract traded 2 cents higher at $6.51 per bushel. The December corn futures traded 1 cent higher at $5.46. July soybean futures traded 8 cents higher at $15.20 per bushel, while November soybeans traded 1 cent higher at $13.20. The July wheat traded 1 cent lower at $6.89. For July soybean meal futures, the contract traded $4.20 per short ton higher at $452.50. The July soybean oil futures traded 14 cents higher at $48.21.
The outside markets are unfavorable for Tuesday's grain trade.