In overnight trading, the Dec. corn futures contract traded 6 1/2 cents lower at $7.98 per bushel. November soybean futures traded 7 3/4 cents lower at $17.60 1/2 per bushel, and Dec. wheat traded 5 cents lower at $8.83 3/4. For Dec. soybean meal futures, the contract traded $2.10 per short ton lower at $531.30. Dec. soybean oil futures traded $0.38 lower at $57.84.
The outside markets are favorable for Wednesday's grain trade. The real factors driving the calls will be the lower overnight markets.
