Up day seen for farm markets
The final full week of 2012 CME Group grain trading is expected to start higher Monday.
The early calls for the commodities on Monday, December 17, 2012, are higher. Corn is seen opening 1 to 2 cents higher, soybeans 10 to 12 cents higher, and wheat 3 to 5 cents higher.
In overnight trading, the March corn futures contract traded 1/2 cent higher at $7.31 per bushel. January soybean futures traded 10 cents higher at $15.06 per bushel, and March wheat traded 3 cents higher at $8.17. For January soybean meal futures, the contract traded $3.60 per short ton higher at $461.30. January soybean oil futures traded 14 cents higher at $50.13.
The outside markets are mildly favorable for Monday's grain trade. The real factors driving the calls will be the higher overnight markets.