On Tuesday, the CME Group's corn, soybean and wheat markets are expected to give back gains from yesterday.
The early calls for the commodities on Tuesday, January 7, 2013, are lower. Corn is seen opening 1-2 cents lower, soybeans 4-6 cents lower, and wheat 2-4 cents lower.
In overnight trading, the CME Group electronic March corn futures traded 1/2 of a cent lower at $4.27 per bushel. The March soybean futures traded 6 1/4 cents lower at $12.70. The March wheat futures traded 2 1/4 cents lower at $6.03. The March soymeal contract traded $0.30 per short ton lower at $413.50. The March soyoil futures traded $0.32 lower at $37.80.
The outside markets are favorable for Tuesday's grain trade. The real factors driving the calls will be the lower overnight markets.
Discuss the corn, soybean and wheat markets in Marketing Talk.
