Mostly lower start for farm markets
DES MOINES, Iowa (Agriculture.com)--On Monday, the CME Group corn, soybean and wheat markets are mixed.
The early calls for the commodities on Monday, February 25, 2013, are mostly lower. Corn is seen opening 1-2 cents lower. Soybeans are seen 3-5 cents higher and wheat 3-5 cents lower.
In overnight trading, the March corn futures contract traded 1 cent lower at $6.90 per bushel. March soybean futures traded 3 cents higher at $14.64 per bushel, and March wheat traded 4 cents lower at $7.10. For March soybean meal futures, the contract traded $3.80 per short ton higher at $430.70. March soybean oil futures traded $0.35 cents lower at $50.00.
The outside markets are favorable for Monday's grain trade. The real factors driving the calls will be the mostly lower overnight markets.