Early calls for the commodities
DES MOINES, Iowa (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Thursday, December 23, 2010 are mostly lower. Corn is seen opening 1-2 cents lower, soybeans 1-2 cents lower and wheat down 1-2 cents.
In overnight electronic trading, the March corn futures contract traded 2 cents lower at $6.07 per bushel. The Jan. soybean futures contract traded 1/4 of a cent lower at $13.28 1/2 per bushel. The March wheat futures contract traded 1 1/2 cents lower at $7.82. For Jan. soymeal futures, the contract traded $1.40 per short ton lower at $351.30, and Jan. soyoil up 0.02 at $55.99.
The outside markets are not supportive for Thursday's grain trade. The real factor driving the lower early calls are the lower overnight markets and a higher trading U.S. Dollar.