Corn, Wheat Seen Giving Back Monday’s Gains

May 19th, 2015

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Category: Grains, Oilseeds

Wheat field and blue sky 450x299(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, May 19, 2015, are weaker. Corn is seen opening 2-4 cents lower, soybeans 1-2 cents lower, and wheat 7-9 cents lower.

In overnight trading, the July corn futures contract traded 3 1/2 cents lower at $3.64. July soybean futures traded 1 3/4 cents lower at $9.52.

July wheat futures contract traded 9 3/4 cents lower at $5.12. For July soybean meal futures, the contract traded $0.50 per short ton lower at $307.50, July soybean oil futures traded $0.14 lower at $32.64.

The outside markets are unfavorable for Tuesday’s grain trade. The real factors driving the calls will be the lower overnight markets.

 

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