Soybean prices to go higher, corn seen lower Friday
A mostly lower trading day is seen for the CME Group farm markets Friday.
The early calls for the commodities on Friday, March 15, 2013, are mixed. Corn is seen opening 1-2 cents lower. Soybeans are seen 3-5 cents higher and wheat 1-2 cents higher.
In overnight trading, the May corn futures contract traded 1 cent lower at $7.15 per bushel. May soybean futures traded 5 cents higher at $14.40 per bushel, and May wheat traded 2 cents lower at $7.22. For May soybean meal futures, the contract traded $0.60 per short ton higher at $425.60. May soybean oil futures traded $0.43 cents higher at $49.77.
The outside markets are favorable for Friday's grain trade. The real factors driving the calls will be the lower overnight markets.