Sharply mixed corn, soybean markets
Sharply mixed overnight markets sets the tone for much of the same type of CME Group corn, soybean and wheat day-session trading Tuesday.
The Early Calls for the commodities on Monday, May 29, 2012, are mixed. Corn is seen opening 2-4 cents lower, wheat 10-12 cents lower and soybeans 4-6 cents lower.
In overnight trading, the July corn futures contract traded 2 cents lower at $5.76 1/2 per bushel. July soybean futures traded 8 3/4 cents higher at $13.90 3/4 per bushel, and July wheat traded 12 1/2 cents lower at $6.67 1/2. For July soybean meal futures, the contract traded $3.40 per short ton higher at $412.70. July soybean oil futures traded $0.29 higher at $50.41.
The outside markets are slightly favorable for Monday's grain trade. The real factors driving the calls will be the sharply mixed overnight markets.