Tuesday's farm markets seen mixed
The CME Group corn, soybean and wheat markets look to open mixed Tuesday.
The Early Calls for the commodities on Tuesday, September 25, 2012, are mostly lower. Corn is seen opening 2-4 cents lower, soybeans 10-12 cents higher, and wheat 2-4 cents lower.
In overnight trading, the Dec. corn futures contract traded 1 cent lower at $7.43 per bushel. Nov. soybean futures traded 9 cents higher at $16.19 per bushel, and Dec. wheat traded 1/2 of a cent lower at $8.91. For Dec. soybean meal futures, the contract traded $4.50 per short ton higher at $488.70. Dec. soybean oil futures traded $0.05 lower at $54.12.
The outside markets are mostly unfavorable for Tuesday's grain trade. The real factors driving the calls will be the mostly lower overnight markets.