(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, August 4, 2014, are stronger. Corn is seen opening 2-4 cents higher, soybeans 12-14 cents higher and wheat 9-10 cents higher. In overnight trading, the Dec. corn futures contract traded 2 1/2 cents lower at $3.64 per bushel. Nov. soybean futures traded 13 cents higher at $10.71. The Sep. wheat futures contract traded 9 3/4 cents higher at $5.44. For Dec. soybean meal futures, the contract traded $5.60 per short ton higher at $348.00; Dec. soybean oil futures traded $0.17 higher at $35.88.
The outside markets are unfavorable for Monday’s grain trade. The real factors driving the calls will be the higher overnight markets.
