Mostly higher markets expected Wednesday
On Wednesday, the CME Group's corn, soybean and wheat markets are expected to start mostly higher.
The early calls for the commodities on Wednesday, October 2, 2013, are mostly higher. Corn is seen opening 1-2 cents lower, soybeans 5-7 cents higher, and wheat 1-2 cents higher.
In overnight trading, the Dec. corn futures traded 3/4 of a cent lower at $4.38 per bushel. The Nov. soybean futures traded 7 1/2 cents higher at $12.75. The Dec. wheat futures contract traded 1 1/2 cents higher at $6.83. For Dec. soybean meal futures, the contract traded $4.40 per short ton higher at $407.70; Dec. soybean oil futures traded $0.11 lower at $40.16.
The outside markets are slightly favorable for Wednesday's grain trade. The real factors driving the calls will be the mostly higher overnight markets.