The early calls for the commodities on Tuesday, January 28, 2014, are predominantly weaker. Corn is seen opening 1-2 cents lower, soybeans 2-4 cents lower, and wheat 4-6 cents higher.
In overnight trading, the March corn futures contract traded 1/2 of a cent lower at $4.31 per bushel. March soybean futures traded 2 1/4 cents lower at $12.85. The March wheat futures contract traded 4 1/4 cents higher at $5.67. For March soybean meal futures, the contract traded $0.80 per short ton lower at $430.10; March soybean oil futures traded $0.06 higher at $37.12.
The outside markets are unfavorable for Tuesday's grain trade. The real factors driving the calls will be the weaker overnight markets.
Source:
http://www.agriculture.com/news/crops/little-firewks-seen-f-cn-soybe-markets_2-ar41426
