Mostly lower grain market start seen
The CME Group's corn, soybean, and wheat markets are expected to start mostly lower Friday.
The early calls for the commodities on Friday, June 21, 2013, are mostly lower. Corn is seen opening 4 to 6 cents lower, soybeans 12 cents higher, and wheat 3 to 5 cents lower.
In overnight trading, the July corn futures contract traded 4 cents lower at $6.69 per bushel. The December corn futures traded 3 cents lower at $5.57. July soybean futures traded 1 cent higher at $14.98 per bushel, while November soybeans traded 6 cents lower at $12.78. The July wheat traded 3 cents lower at $6.97. For July soybean meal futures, the contract traded $1.70 per short ton lower at $447.00. The July soybean oil futures traded 7 cents lower at $48.33.
The outside markets are unfavorable for Friday's grain trade.