Home / Markets / Markets Analysis / Corn market / Early calls for the commodities

Early calls for the commodities

11/09/2010 @ 6:46am

DES MOINES, Iowa (Agriculture.com)--The pre-opening prices for the CME Group grain commodities are higher Tuesday, November 9, 2010. For soybeans, the opening prices are seen 20-25 cents higher. For corn and wheat, the prices are seen starting 10-15 cents higher, traders say. 

In its November Crop Production Report Tuesday, the USDA released bullish data. 

Highlighting the report was a lowered U.S. 2010-2011 soybean carryout at 185 million bushels. This figure is sharply lower than the average trade estimate of 240 million. Therefore, the soybean complex is seen leading the Tuesday trading session.

In addition, overnight electronic trading, the Dec. corn futures contract is 8 3/4 cents higher at $5.94 per bushel. The Jan. soybean futures contract is 21 1/2 cents higher at $12.96 1/4 per bushel. The Dec. wheat futures contract traded 10 cents higher at $7.46 1/4. For Dec. soymeal futures, the contract traded $6.10 per short ton higher at $351.00, and Dec. soyoil up 0.72 at $52.73.

The outside markets are supportive for Tuesday's grain trade. The real factors driving the early calls will be the USDA data. 

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

End of an Era for Corn, Soybean Futures:… By: 07/02/2015 @ 9:41am This Monday, the history of corn and soybean markets will change. After being traded on the floor…

Grains, Soybeans Mixed to Close Thursday By: 07/02/2015 @ 8:56am Grains and soybeans were mixed to close the day Thursday. At the open, the September corn…

Corn, Soybean Markets to Edge Higher By: 07/02/2015 @ 6:54am On Thursday, the CME Group's corn, soybean, and wheat markets are expected to start mostly…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Cover Crops-Happy Landlords
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]