In overnight trading, the Sep. corn futures contract traded 5 cents lower at $8.05 per bushel. Aug. soybean futures traded 32 cents lower at $16.24 1/2 per bushel, and Sept. wheat traded 4 1/4 cents lower at $8.87. For soybean meal futures, the Aug. contract traded $11.50 per short ton lower at $520.00. Aug. soybean oil futures traded $0.92 lower at $51.12.
The outside markets are not favorable for Monday's grain trade. The real factors driving the calls will be the lower overnight markets.
