Early calls for corn, wheat, and soybeans
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, December 7, 2010 are higher. Corn is seen opening 5-7 cents higher, soybeans 10-12 cents higher and wheat up 8-10 cents.
In overnight electronic trading, the March corn futures contract traded 5 cents higher at $5.73 per bushel. The Jan. soybean futures contract traded 12 3/4 cents higher at $13.01 1/4 per bushel. The March wheat futures contract traded 10 cents higher at $8.03. For Jan soymeal futures, the contract traded $2.50 per short ton higher at $349.00, and Jan. soyoil up 0.69 at $54.23.
The outside markets are very supportive for Tuesday's grain trade. The real factors driving the higher early calls are the stronger supporting outside markets.