Soybeans, Corn Seen Higher Tuesday

February 3rd, 2015

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Category: Grains, Oilseeds

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

The early calls for the commodities on Tuesday, February 3, 2015, are stronger. Corn is seen opening 4-6 cents higher, soybeans 10-12 cents higher, and wheat 7-9 cents higher.

In overnight trading, the March corn futures contract traded 4 3/4 cents higher at $3.74 per bushel. March soybean futures traded 11 1/2 cents higher at $9.71 per bushel. The March wheat futures contract traded 7 cents higher at $4.99. For March soybean meal futures, the contract traded $4.30 per short ton higher at $322.20; March soybean oil futures traded $0.23 higher at $30.64.

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

 

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