Wednesday's grain markets seen slightly higher
On Wednesday, the CME Group's corn, soybean, and wheat markets are expected to start mostly higher.
The early calls for the commodities on Wednesday, November 13, 2013, are mostly higher. Corn is seen opening 1 to 2 cents higher, soybeans 3 to 5 cents lower, and wheat 2 to 4 cents higher.
In overnight trading, the Dec. corn futures contract traded 1 1/4 cents higher at $4.33 per bushel. The Nov. soybean futures traded 3 cents lower at $13.16. The Dec. wheat futures contract traded 2 1/4 cents higher at $6.47. For Dec. soybean meal futures, the contract traded $2.10 per short ton lower at $425.60; Dec. soybean oil futures traded $0.23 higher at $40.98.
The outside markets are favorable for Wednesday's grain trade. The real factors driving the calls will be the slightly higher overnight markets.