Early calls for the corn, soybean, and wheat markets
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, July 20, 2010 are lower. The Early calls for corn and soybeans are 3-5 cents, and wheat down 4-6 cents.
In overnight electronic trading, the Dec. corn futures contract traded 4 1/4 cents lower at $3.89 3/4 per bushel. The Nov. soybean futures contract traded 2 3/4 cents lower at $9.69 1/4 per bushel. The Sep. wheat futures contract traded 4 cents lower at $5.78 1/4. For Dec. soymeal futures, the contract traded $2.50 per short ton lower at $283.00, and Dec. soyoil down $0.03 at $38.71.
The outside markets are not supportive for Tuesday's grain trade. The real factor driving the lower early calls is the lower overnight market. Also, rain continues to spread throughout the Midwest, keeping the market wondering if the expected 'heat dome' will have any impact this week.