(Agriculture.com) – On Friday, the CME Group’s corn, soybean and wheat markets are expected to start lower.
The early calls for the commodities on Friday, November 14, 2014, are weaker. Corn is seen opening 2-4 cents lower, soybeans 12-14 cents lower, and wheat 1-2 cents lower.
In overnight trading, the Dec. corn futures contract traded 2 3/4 cents lower at $3.83 per bushel. Jan. soybean futures traded 13 1/4 cents lower at $10.40. The Dec wheat futures contract traded 2 cents lower at $5.51. For Dec. soybean meal futures, the contract traded $7.50 per short ton lower at $396.00; Dec. soybean oil futures traded $0.07 lower at $32.00.
The outside markets are unfavorable for Friday’s grain trade. The real factors driving the calls will be the lower overnight markets.
