Weaker farm prices seen Monday
A lower trading day is seen for the CME Group farm markets Monday.
The early calls for the commodities on Monday, March 18, 2013, are lower. Corn is seen opening 5-7 cents lower. Soybeans are seen 14-15 cents lower and wheat 7-9 cents lower.
In overnight trading, the May corn futures contract traded 5 cents lower at $7.11 per bushel. May soybean futures traded 15 cents lower at $14.11 per bushel, and May wheat traded 9 cents lower at $7.13. For May soybean meal futures, the contract traded $5.20 per short ton lower at $413.60. May soybean oil futures traded $0.42 cents lower at $42.49.
The outside markets are unfavorable for Monday's grain trade. The real factors driving the calls will be the lower overnight markets