CME Group's corn, soybean, and wheat markets are expected to start higher Thursday.The early calls for the commodities on Thursday, May 16, 2013, are higher. Corn is seen opening 1 to 2 cents higher, soybeans 5 to 7 cents higher, and wheat 3 to 5 cents higher.
In overnight trading, the July corn futures contract traded 1 cent higher at $6.51 per bushel. The December corn futures traded 2 cents lower at $5.33. July soybean futures traded 4 cents higher at $14.17 per bushel, while November soybeans traded 5 cents higher at $12.14.
The July wheat traded 3 cents higher at $6.96. For July soybean meal futures, the contract traded 50 cents per short ton higher at $411.00. The July soybean oil futures traded 7 cents higher at $49.42.
The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the slightly higher overnight markets.
