Early calls for corn, wheat, and soybeans
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, November 22, 2010 are higher. Corn is seen opening 2-4 cents higher, soybeans 6-8 cents higher and wheat up 3-5 cents.
In overnight electronic trading, the Dec. corn futures contract traded 2 cents higher at $5.22 3/4 per bushel. The Jan. soybean futures contract traded 8 1/2 cents higher at $12.10 per bushel. The Dec. wheat futures contract traded 3 1/21cents higher at $6.48. For Jan. soymeal futures, the contract traded $3.50 per short ton lower at $330.80, and Jan. soyoil up 0.10 at $49.40.
The outside markets are mildly supportive for Monday's grain trade. The real factors driving the higher early calls are the higher overnight markets and an expected weaker U.S. Dollar.
Due to the Thanksgiving holiday, the short-trading week is expected to see volatility and positioning ahead of Thursday.