On Tuesday, the CME Group's corn, soybean and wheat markets are expected to start lower.
The early calls for the commodities on Tuesday, December 31, 2013, are lower. Corn is seen opening 1-2 cents lower, soybeans 4-5 cents lower, and wheat 1-2 cents lower.
In overnight trading, the March corn futures traded 3/4 of a cent lower at $4.22 per bushel. March soybean futures traded 5 1/4 cents lower at $13.03. The March wheat futures contract traded 1 cent lower at $5.99. For March soybean meal futures, the contract traded $2.30 per short ton lower at $424.80; March soybean oil futures traded $0.12 higher at $39.08.
The outside markets are unfavorable for Tuesday's grain trade. The real factors driving the calls will be the lower overnight markets.
