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Early calls for corn, wheat, and soybeans

10/04/2010 @ 7:30am

CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, October 4, 2010 are lower.  Corn is seen opening 6-7 cents lower, soybeans 7-9 cents lower, and wheat 7-9 cents lower. 

In overnight electronic trading, the Dec. corn futures contract traded 9 1/2 cents lower at $4.56 1/4 per bushel. The Nov. soybean futures contract traded 11 1/2 cents lower at $10.45 1/2 per bushel. The Dec. wheat futures contract traded 10 cents lower at $6.45. For Dec. soymeal futures, the contract traded $2.20 per short ton lower at $287.70, and Dec. soyoil down $0.32 at $43.51.

The outside markets are not supportive for Monday's grain trade. The real factors driving the lower early calls are the lower overnight markets.