Early calls for corn, wheat, and soybeans
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, December 8, 2010 are lower. Corn is seen opening 3-5 cents lower, soybeans 8-10 cents lower and wheat down 10-12 cents.
In overnight electronic trading, the March corn futures contract traded 3 3/4 cents lower at $5.58 per bushel. The Jan. soybean futures contract traded 8 1/4 cents lower at $12.77 1/4 per bushel. The March wheat futures contract traded 13 1/2 cents lower at $7.71 1/4. For Jan soymeal futures, the contract traded $2.10 per short ton lower at $342.20, and Jan. soyoil down 0.38 at $53.42.
The outside markets are not as supportive for Wednesday's grain trade. The real factors driving the lower early calls are the lower overnight markets.