Mike McGinnis 05/09/2012 @
8:33am
Due to world
economic concerns in Spain and Greece causing a rush to safer investments, the
CME Group corn, soybean and wheat markets are seen trading lower Wednesday.
The Early Calls
for the commodities on Wednesday, May 9, 2012, are lower. Corn and wheat
are seen opening 4-6 cents lower, soybeans 8-10 cents lower.
In overnight
trading, the July corn futures contract traded 3 cents lower at $6.20 per
bushel. July soybean futures traded 10 1/4 cents lower at $14.28 per bushel,
and July wheat traded 4 cents lower at $6.11. For July soybean meal futures,
the contract traded $3.50 per short ton lower at $413.80. July soybean oil
futures traded $0.04 lower at $53.23.
The outside
markets are unfavorable for Wednesday's grain trade. The real factors driving
the calls will be the outside pressure and lower overnight markets.
No comments:
Post a Comment