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Soybean, wheat markets to sink

05/23/2012 @ 7:38am

There's market pressure all over the place and the start of the CME Group soybean, wheat and corn day-trading session will be mostly lower Wednesday. 

The Early Calls for the commodities on Wednesday, May 23, 2012, are lower. Corn is seen opening mixed to 1-2 cents higher, wheat 14-16 cents lower and soybeans 12-14 cents lower.

In overnight trading, the July corn futures contract traded 3 cents higher at $6.00 per bushel. July soybean futures traded 15 1/2 cents lower at $13.66 1/2 per bushel, and July wheat traded 14 cents lower at $6.71 1/4. For July soybean meal futures, the contract traded $2.20 per short ton lower at $402.80. July soybean oil futures traded $0.77 lower at $49.69.

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

Discuss the corn, soybean and wheat markets in Marketing Talk.

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