Higher corn, soybeans to start April

April 3rd, 2012

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Category: Grains, Oilseeds

(Agriculture.com) – With possible follow-through buying from last week’s USDA Reports, the CME Group corn, soybean and wheat markets look to start the first day of April’s trade mostly higher Monday.

The Early Calls for the commodities on Monday, April 2, 2012, are mostly higher.

Corn is seen opening 4-6 cents higher, soybeans 12-14 cents higher and wheat 2-4 cents lower.

In overnight trading, the July corn futures contract traded 4 3/4 cents higher at $6.48 per bushel. July soybean futures traded 12 1/2 cents higher at $14.20 3/4 per bushel, and July wheat traded 5 cents lower at $6.69. For July soybean meal futures, the contract traded $2.90 per short ton higher at $392.60. July soybean oil futures traded $0.42 higher at $55.93.

The outside markets are friendly for Monday’s grain trade. The real factors driving the calls will be the mostly higher overnight markets.

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