Stronger farm markets ahead Wednesday
South American weather concerns have created underpinning for the CME Group corn, soybean and wheat markets Wednesday.
The Early Calls for the commodities on Wednesday, July 30, 2013, are higher. Corn is seen opening 6-8 cents higher, soybeans 17-18 cents higher, and wheat 2-4 cents higher.
In overnight trading, the March corn traded 6 cents higher at $7.35. March soybean futures traded 17 cents higher at $14.69 per bushel. March wheat futures traded 2 cents higher at $7.79.
The outside markets are favorable for Wednesday's grain trade. The real factors driving the calls will be the higher overnight markets.