Early calls for corn, wheat, and soybeans
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, November 26, 2010 are mostly lower. Corn is seen opening 3-5 cents lower, soybeans 12-14 cents lower and wheat up 1-2 cents.
In overnight electronic trading, the March corn futures contract traded 5 cents lower at $5.48 3/4 per bushel. The Jan. soybean futures contract traded 16 1/4 cents lower at $12.38 3/4 per bushel. The Dec. wheat futures contract traded 1/2 of a cent higher at $6.48. For Dec soymeal futures, the contract traded $2.60 per short ton lower at $337.60, and Jan. soyoil down 0.64 at $49.96.
The outside markets are not supportive for Friday's grain trade. The real factors driving the mostly lower early calls are the predominantly lower overnight markets.