Early calls for corn, wheat, and soybeans
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, October 25, 2010 are sharply higher. Corn is seen opening 7-9 cents higher, soybeans up 14-16 cents higher, and wheat up 5-7 cents.
In overnight electronic trading, the Dec. corn futures contract traded 10 1/2 cents higher at $5.70 1/2 per bushel. The Nov. soybean futures contract traded 17 1/2 cents higher at $12.17 per bushel. The Dec. wheat futures contract traded 6 1/4 cents higher at $6.77. For Dec. soymeal futures, the contract traded $2.40 per short ton higher at $333.30, and Dec. soyoil up $1.42 at $49.72.
The outside markets are very supportive for Monday's grain trade. The real factors driving the higher early calls are the higher overnight markets.