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Weakness ahead of USDA data Friday

Updated: 01/11/2013 @ 9:17am

The CME Group commodities look to start a bit weaker Friday, awaiting the ballyhooed USDA Crop Production and Supply/Demand Reports to be released at 11:00 am CT.

The early calls for the commodities on Friday, January 11, 2012, are mostly lower. Corn is seen opening 2 to 4 cents lower. Soybeans are seen 10 to 12 cents lower, and wheat 1 to 2 cents lower. In overnight trading, the March corn futures contract traded 2 cents lower at $6.96 per bushel. January soybean futures traded 13 cents lower at $14.04 per bushel, and March wheat traded 1 cent higher at $7.45. For January soybean meal futures, the contract traded $3.20 per short ton lower at $405.50. January soybean oil futures traded 17 cents lower at $49.58. 

The outside markets are unfavorable for Friday's grain trade. The real factors driving the calls will be the lower overnight markets.

Discuss the corn, soybean and wheat markets in Marketing Talk.

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