Soybeans Seen Higher Ahead of USDA

November 10th, 2014

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Category: Grains, Oilseeds

Beans_Corn_Soy_Lentils450x2(Agriculture.com) – On Monday, the CME Group’s corn, soybean and wheat markets are expected to start mostly lower.

The early calls for the commodities on Monday, November 10, 2014, are mostly weaker. Corn is seen opening 2-4 cents lower, soybeans 3-5 cents higher, and wheat 1-2 cents lower.

In overnight trading, the Dec. corn futures contract traded 1 cent lower at $3.66 per bushel. Jan. soybean futures traded 5 3/4 cents higher at $10.42. The Dec wheat futures contract traded 1 3/4 cents lower at $5.12. For Dec. soybean meal futures, the contract traded $3.60 per short ton lower at $394.00; Dec. soybean oil futures traded $0.35 higher at $32.75.

The outside markets are favorable for Monday’s grain trade. The real factors driving the calls will be the lower overnight markets.

 

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