Early calls for corn, wheat, and soybeans
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, December 1, 2010 are mostly higher. Corn is seen opening 4-6 cents higher, soybeans 12-14 cents higher and wheat up 20-21 cents.
In overnight electronic trading, the March corn futures contract traded 7 1/2 cents higher at $5.51 1/2 per bushel. The Jan. soybean futures contract traded 15 cents higher at $12.58 per bushel. The March wheat futures contract traded 23 3/4 cents higher at $7.14 1/4. For Jan soymeal futures, the contract traded $0.10 per short ton higher at $341.70, and Jan. soyoil up 0.67 at $51.67.
The outside markets are very supportive for Wednesday's grain trade. The real factors driving the higher early calls are the sharply higher overnight markets.