On Thursday, the CME Group's corn, soybean and wheat markets are expected to trade mixed.
The early calls for the commodities on Thursday, January 9, 2013, are mixed. Corn is seen opening 1-2 cents lower, soybeans 4-6 cents higher, and wheat 1-2 cents higher.
In overnight trading, the CME Group electronic March corn futures traded 1 3/4 cents lower at $4.15 per bushel. The March soybean futures traded 7 cents higher at $12.76. The March wheat futures traded 1 cent higher at $5.89. The March soymeal contract traded $3.70 per short ton higher at $416.20. The March soyoil futures traded $0.10 higher at $37.78.
The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the mixed overnight markets.
On Thursday, the USDA released its weekly export sales report. The numbers came in well below expectations.
For corn, sales totaled 155,300 mt vs. the trade's expectations of 300,000 to 500,000 metric tons (mt).
Soybean exports totaled 156,200 metric tons vs. the trade's expectations of 450,000-900,000 mt.
U.S. wheat weekly exports were marked at 194,800 mt vs. the trade's expectations of 300,000 to 500,000 mt.
