Early calls for corn, wheat, and soybeans
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, August 24, 2010 are lower. The early calls for corn are 7-9 cents lower, soybeans down 4-6 cents and wheat 7-9 lower.
In overnight electronic trading, the Dec. corn futures contract traded 9 1/2 cents lower at $4.23 1/4 per bushel. The Nov. soybean futures contract traded 6 1/4 cents lower at $9.99 1/4 per bushel. The Dec. wheat futures contract traded 11 1/4 cents lower at $7.14 1/4. For Dec. soymeal futures, the contract traded $1.90 per short ton lower at $293.00, and Dec. soyoil down 0.15 point at $39.67.
The outside markets are not supportive for Tuesday's grain trade. The real factor driving the lower early calls are the lower overnight markets. The U.S. and world equities could pressure the grains today, traders say.