Early calls for the commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, November 8, 2010 are mostly higher. Wheat is seen opening 10-12 cents higher, corn 3-5 cents lower and soybeans 7-9 cents higher.
In overnight electronic trading, the Dec. corn futures contract traded 2 1/4 cents lower at $5.87 3/4 per bushel. The Jan. soybean futures contract traded 9 1/4 cents higher at $12.84 per bushel. The Dec. wheat futures contract traded 15 cents higher at $7.28 3/4. For Dec. soymeal futures, the contract traded $0.20 per short ton lower at $348.00, and Dec. soyoil up 0.97 at $52.22.
The outside markets are not supportive for Monday's grain trade. The real factors driving the higher early calls are the higher overnight markets.