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Slightly higher farm markets Wednesday

02/29/2012 @ 6:01am

The CME Group corn, soybean and wheat markets look to start higher, with one eye on end-of-month profit-taking Wednesday.

The Early Calls for the commodities on Wednesday, February 29, 2012, are slightly higher. Corn is seen opening 1-2 cents higher, soybeans 1-2 cents higher and wheat 3-5 cents higher.

In overnight trading, the May corn futures contract traded 1 cents higher at $6.58 1/2 per bushel. May soybean futures traded 1 1/4 cents lower at $13.13 3/4 per bushel, and May wheat traded 4 1/4 cents higher at $6.72 1/2. For May soybean meal futures, the contract traded $0.10 per short ton lower at $349.20. May soybean oil futures traded $0.02 lower at $54.78.

The outside markets are unfavorable for Wednesday's grain trade. The real factors driving the calls will be the slightly higher overnight market

Discuss corn, soybean and wheat markets in Marketing Talk.

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