e CME Group's old-crop corn, soybean contracts are seen lower, while the new-contracts are expected to be lower Monday.The early calls for the commodities on Monday, May 20, 2013, are mixed. Old-crop corn is seen opening 2 to 4 cents higher, old-crop soybeans 2 to 4 cents higher, and wheat 1 to 2 cents lower.
In overnight trading, the July corn futures contract traded 4 cents higher at $6.56 per bushel. The December corn futures traded 1 cent lower at $5.18. July soybean futures traded 2 cents higher at $14.50 per bushel, while November soybeans traded 7 cents lower at $12.21.
The July wheat traded 1 cent lower at $6.82. For July soybean meal futures, the contract traded $2.10 cents per short ton higher at $427.20. The July soybean oil futures traded 7 cents lower at $49.45.
The outside markets are slightly favorable for Monday's grain trade. The real factors driving the calls will be the slightly mixed overnight markets.
