(Agriculture.com) – On Tuesday, the CME Group’s corn, soybean and wheat markets are expected to start higher.
The early calls for the commodities on Tuesday, January 6, 2015, are stronger. Corn is seen opening 2-4 cents higher, soybeans 5-7 cents higher, and wheat 7-9 cents higher.
In overnight trading, the March corn futures contract traded 2 cents higher at $4.08 per bushel. March soybean futures traded 5 1/2 cents higher at $10.50. The March wheat futures contract traded 7 1/4 cents higher at $5.96. For March soybean meal futures, the contract traded $0.60 per short ton higher at $354.60; March soybean oil futures traded $0.07 lower at $32.80.
The outside markets are unfavorable for Tuesday’s grain trade. The real factors driving the calls will be the higher overnight markets.
