Mostly higher soybean, corn prices Monday
Soybeans are geared up to regain some of Friday's losses, with mixed trading seen for the CME Group wheat and corn markets Monday.
The Early Calls for the commodities on Monday, May 21, 2012, are mostly higher. Corn is seen opening 1-2 cents higher, wheat 1-2 cents lower and soybeans 4-6 cents higher.
In overnight trading, the July corn futures contract traded 1 1/2 cents higher at $6.37 per bushel. July soybean futures traded 8 cents higher at $14.13 per bushel, and July wheat traded 3 1/4 cents lower at $6.92. For July soybean meal futures, the contract traded $1.10 per short ton higher at $419.00. July soybean oil futures traded $0.36 higher at $50.68.
The outside markets are favorable for Monday's grain trade. The real factors driving the calls will be the mixed overnight markets.