In overnight trading, the Dec. corn futures contract traded 1 1/4 cents lower at $7.99 1/2 per bushel. Nov. soybean futures traded 6 1/2 cents lower at $17.12 1/2 per bushel, and Dec. wheat traded 1/2 of a cent lower at $8.80 3/4. For Dec. soybean meal futures, the contract traded $3.20 per short ton lower at $515.50. Dec. soybean oil futures traded $0.29 lower at $56.27.
The outside markets are mostly favorable for Tuesday's grain trade. The real factors driving the calls will be the lower overnight markets.
