The CME Group commodities are expected to start higher Monday. The early calls for the commodities on Monday, January 7, 2012, are higher. Corn is seen opening 2-4 cents higher. Soybeans are seen 8-10 cents higher and wheat 4 cents higher.
In overnight trading, the March corn futures contract traded 4 cents higher at $6.84 per bushel. January soybean futures traded 8 cents higher at $13.97 per bushel, and March wheat traded 4 cents higher at $7.51. For January soybean meal futures, the contract traded $2.00 per short ton higher at $400.20. January soybean oil futures traded $0.01 cent higher at $49.43.
The outside markets are unfavorable for Monday's grain trade. The real factors driving the calls will be the higher overnight markets.
