(Agriculture.com) – On Wednesday, the CME Group’s corn, soybean and wheat markets are expected to start mostly lower.
The early calls for the commodities on Tuesday, May 28, 2014, are mixed. Corn is seen opening 3-4 cents lower, soybeans 8-10 cents higher, and wheat 3-5 cents lower.
In overnight trading, the July corn futures contract traded 3 cents lower at $4.66 per bushel. July soybean futures traded 8 cents higher at $14.97. The July wheat futures contract traded 3 3/4 cents lower at $6.37. For July soybean meal futures, the contract traded $3.00 per short ton higher at $497.20; July soybean oil futures traded $0.12 higher at $40.06.
The outside markets are unfavorable for Wednesday’s grain trade. The real factors driving the calls will be the lower overnight markets.
