Slightly higher markets seen for Monday
The CME Group corn, soybean and wheat markets have a slightly higher bend to them Monday.
The early calls for the commodities on Monday, January 26, 2013, are higher. Corn is seen opening 1-2 cents higher. Soybeans are seen 2-4 cents higher and wheat 1-2 cents lower.
In overnight trading, the March corn futures contract traded 1 cent higher at $7.22 per bushel. March soybean futures traded 2 cents higher at $14.43 per bushel, and March wheat traded 1 cent lower at $7.75. For March soybean meal futures, the contract traded $0.60 per short ton higher at $417.00. March soybean oil futures traded $0.02 cents higher at $52.12.
The outside markets are unfavorable for Monday's grain trade. The real factors driving the calls will be the mostly higher overnight markets.