(Agriculture.com) – On Monday, the CME Group’s corn, soybean and wheat markets are expected to start higher.
The early calls for the commodities on Monday, April 14, 2014, are higher. Corn is seen opening 2-4 cents higher, soybeans 5-7 cents higher, and wheat higher.
In overnight trading, the May corn futures contract traded 4 cents higher at $5.02 per bushel. May soybean futures traded 5 3/4 cents higher at $14.68. The May wheat futures contract traded 14 cents higher at $6.74. For May soybean meal futures, the contract traded $1.40 per short ton higher at $474.30; May soybean oil futures traded $0.03 higher at $42.13.
The outside markets are unfavorable for Monday’s grain trade. The real factors driving the calls will be the higher overnight markets.