(Agriculture.com) – On Thursday, the CME Group’s corn, soybean, and wheat markets are expected to start lower.
The USDA will release fresh estimates Thursday of the U.S. 2014 corn and soybean crops at 11:00am CT.
The early calls for the commodities on Thursday, September 11, 2014, are weaker. Corn is seen opening 1 to 2 cents lower, soybeans 2 to 4 cents lower, and wheat 2 to 4 cents lower. In overnight trading, the Dec. corn futures contract traded 1 3/4 cents lower at $3.44 per bushel. Nov. soybean futures traded 3 1/4 cents lower at $9.90. The Dec. wheat futures contract traded 4 cents lower at $5.15.
For Dec. soybean meal futures, the contract traded $2.60 per short ton lower at $334.60; Dec. soybean oil futures traded $0.17 higher at $32.00.
The outside markets are favorable for Thursday’s grain trade. The real factors driving the calls will be the lower overnight markets.
