(Agriculture.com) – On Tuesday, the CME Group’s corn, soybean and wheat markets are expected to start lower.
The early calls for the commodities on Tuesday, April 21, 2015, are weaker. Corn is seen opening 4-5 cents lower, soybeans 4-5 cents lower, and wheat 1-3 cents lower.
In overnight trading, the May corn futures contract traded 4 1/2 cents lower at $3.73. May soybean futures traded 4 1/2 cents lower at $9.73.
May wheat futures contract traded 3 1/2 cents lower at $4.95. For May soybean meal futures, the contract traded $3.10 per short ton lower at $315.40, May soybean oil futures traded $0.17 higher at $31.76.
The outside markets are unfavorable for Tuesday’s grain trade. The real factors driving the calls will be the lower overnight markets.