Weaker farm markets seen for Thursday
The CME Group's corn, soybean and wheat markets are expected to start lower Thursday.
The early calls for the commodities on Thursday, June 13, 2013, are mostly weaker. Corn is seen opening 1-2 cents higher, soybeans 8-10 cents lower, and wheat 1-2 cents lower.
In overnight trading, the July corn futures contract traded 1 cent higher at $6.51 per bushel. The December corn futures traded unchanged at $5.37. July soybean futures traded 10 cents lower at $15.31 per bushel, while November soybeans traded 6 cents lower at $13.08. The July wheat traded 1 cent lower at $6.82. For July soybean meal futures, the contract traded $1.90 per short ton lower at $459.50. The July soybean oil futures traded $0.11 higher at $48.22.
The outside markets are unfavorable for Thursday's grain trade.