The trade is expecting a choppy day of CME Group corn, soybean and wheat prices, with a quiet overnight and little fresh news Thursday. The USDA Weekly Export Sales Report, normally released on Thursday morning's , is delayed until tomorrow due to the Veteran's Day Holiday.
The Early Calls for the commodities on Thursday, November 15, 2012, are mixed. Corn is seen opening 2-4 cents higher, soybeans 5-7 cents lower, and wheat 4-6 cents higher.
In overnight trading, the Dec. corn futures contract traded 2 cents higher at $7.27 per bushel. January soybean futures traded 6 cents lower at $14.12 per bushel, and Dec. wheat traded 4 cents higher at $8.53. For Dec. soybean meal futures, the contract traded $2.90 per short ton lower at $433.10. Dec. soybean oil futures traded $0.11 higher at $47.78.
The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the mixed overnight markets.
