Early calls for corn, wheat, and soybeans
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, December 3, 2010 are higher. Corn is seen opening 5-7 cents higher, soybeans 5-7 cents higher and wheat up 17-19 cents.
In overnight electronic trading, the March corn futures contract traded 7 cents higher at $5.62 1/2 per bushel. The Jan. soybean futures contract traded 4 3/4 cents higher at $12.92 1/2 per bushel. The March wheat futures contract traded 22 1/4 cents higher at $7.70 1/44. For Jan soymeal futures, the contract traded $2.20 per short ton higher at $347.90, and Jan. soyoil up 0.20 at $53.04.
The outside markets are very supportive for Friday's grain trade. The real factors driving the higher early calls are the strong overnight markets.