In early trading, the the July futures corn contract is 1 cent lower at $6.71. New-crop Dec. corn futures are trading unchanged at $5.60. The July soybean futures contract is trading 6 cents higher at $15.03, new-crop Nov. soybeans are trading 4 cents lower at $12.81. July wheat futures are trading 1 cent higher at $7.01 per bushel. The July soymeal futures are trading $2.60 per short ton higher at $448.20. The July soyoil futures are trading $0.03 lower at $48.37.
In the outside markets, the NYMEX crude oil is $0.35 per barrel lower, the dollar is higher and the Dow Jones Industrials are 52 points lower.
Mike
------
At 6:45am:
Early calls: Corn is seen 4-6 cents lower (old-crop), soybeans 1-2 cents higher (old-crop), and wheat 3-5 cents lower. Meanwhile, new-crop corn 3-5 cents lower and soybeans are seen 6-8 cents lower.
Trackers:
Overnight grain, soybean markets=Trading mostly lower.
Crude Oil=$0.33 per barrel lower.
Dollar=Higher.
Wall Street=Seen higher, with the sell-off from yesterdsy seen as overdone.
World=Asia/Pacific stocks were lower and Europe's stocks are higher.
More in a minute,
Mike
