(Agriculture.com) – On Wednesday, the CME Group’s corn, soybean and wheat markets are expected to start mostly lower.
The early calls for the commodities on Wednesday, April 22, 2015, are weaker. Corn is seen opening 1-2 cents lower, soybeans 2-4 cents lower, and wheat 1-3 cents higher.
In overnight trading, the May corn futures contract traded 1 3/4 cents lower at $3.71. May soybean futures traded 3 1/2 cents lower at $9.71.
May wheat futures contract traded 3/4 of a cent higher at $5.01. For May soybean meal futures, the contract traded $1.00 per short ton lower at $314.80, May soybean oil futures traded $0.09 lower at $31.73.
The outside markets are unfavorable for Wednesday’s grain trade. The real factors driving the calls will be the lower overnight markets.