In overnight trading, the Dec. corn futures contract traded 4 1/4 cents lower at $8.34 3/4 per bushel. Dec, soybean futures traded 12 1/4 cents lower at $17.20 1/4 per bushel, and Dec, wheat traded 8 3/4 cents lower at $9.13 1/4. For Dec. soybean meal futures, the contract traded $4.70 per short ton lower at $519.80. Dec, soybean oil futures traded $0.35 lower at $55.87.
The outside markets are unfavorable for Wednesday's grain trade. The real factors driving the calls will be the lower overnight markets.
