Slightly higher start seen for grains
For Friday, the CME Group corn, soybean, and wheat markets are expected to trade slightly higher.
The early calls for the commodities on Friday, January 18. 2013, are higher. Corn is seen opening 2 to 4 cents higher. Soybeans are seen 1 to 2 cents higher and wheat 2 to 3 cents higher.
In overnight trading, the March corn futures contract traded 4 cents higher at $7.28 per bushel. March soybean futures traded 1 cent higher at $14.31 per bushel, and March wheat traded 3 cents higher at $7.84. For March soybean meal futures, the contract traded $1.70 per short ton higher at $415.70. March soybean oil futures traded 4 cents lower at $51.45.
The outside markets are unfavorable for Friday's grain trade. The real factors driving the calls will be the higher overnight markets.