Tuesday Weakness Seen For Corn, Soybean Prices
On Tuesday, the CME Group’s corn, soybean and wheat markets are expected to start lower. The early…On Tuesday, the CME Group’s corn, soybean and wheat markets are expected to start lower.
The early calls for the commodities on Tuesday, September 22, 2015, are weaker. Corn is seen opening 4-5 cents lower, soybeans 7-9 cents lower, and wheat 5-7 cents lower.
In overnight trading, the Dec. corn futures contract traded 4 cents lower at $3.80. Nov. soybean futures traded 7 cents lower at $8.67.
Dec. wheat futures contract traded 5 cents lower at $4.91. For Dec. soybean meal futures, the contract traded $1.20 per short ton lower at $307.00, Dec. soybean oil futures traded $0.25 lower at $26.46.
The outside markets are unfavorable for Tuesday’s grain trade. The real factors driving the calls will be the lower overnight markets.