(Agriculture.com) – On Thursday, the CME Group’s corn, soybean and wheat markets are expected to start mostly higher.
The early calls for the commodities on Thursday, May 29, 2014, are mixed. Corn is seen opening 3-4 cents lower, soybeans 3-5 cents higher, and wheat 3-5 cents higher.
In overnight trading, the July corn futures contract traded 2 cents lower at $4.70 per bushel. July soybean futures traded 5 cents higher at $15.02. The July wheat futures contract traded 4 1/2 cents higher at $6.43. For July soybean meal futures, the contract traded $2.40 per short ton higher at $500.90; July soybean oil futures traded $0.04 higher at $39.67.
The outside markets are favorable for Thursday’s grain trade. The real factors driving the calls will be the mostly higher overnight markets.
