Soybean, Wheat Markets to Move Up Wednesday

August 5th, 2015

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Category: Grains, Oilseeds

corn 450x299(Agriculture.com) – On Wednesday, the CME Group’s corn, soybean, and wheat markets are expected to start mostly higher.

The early calls for the commodities on Wednesday, August 5, 2015, are mostly stronger. Corn is seen opening 1 to 2 cents lower, soybeans 4 to 6 cents higher, and wheat 1 to 2 cents higher.

In overnight trading, the Sept. corn futures contract traded 1 cent lower at $3.67 per bushel. Dec. corn futures traded 1 cent lower at $3.77 per bushel.

Sept. soybean futures traded 5 cents higher at $9.53, while the Nov. soybean futures traded 4 1/4 cents higher at $9.46.

The Sept. wheat futures contract traded 1/4 cent higher at $4.93. For Sept. soybean meal futures, the contract traded $2.50 per short ton higher at $340.00; Sept. soybean oil futures traded $0.05 lower at $29.90.

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

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