Early calls for corn, wheat, and soybeans
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, October 29, 2010 are lower. Wheat is is seen opening 1-2 cents lower, soybeans down 6-8 cents, and corn down 3-5 cents.
In overnight electronic trading, the Dec. corn futures contract traded 5 cents lower at $5.74 per bushel. The Nov. soybean futures contract traded 8 3/4 cents lower at $12.16 1/4 per bushel. The Dec. wheat futures contract traded 2 cents lower at $7.16 1/4. For Dec. soymeal futures, the contract traded $1.10 per short ton lower at $335.20, and Dec. soyoil down 0.59 at $49.11.
The outside markets are not supportive for Friday's grain trade. The real factors driving the lower early calls are the lower overnight markets and unfavorable outside markets, mainly the higher-trading dollar.