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Early calls for the commodities

12/31/2010 @ 7:09am

CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, December 31, 2010 are higher. Corn is seen opening 3-5 cents higher, soybeans 10-12 cents higher and wheat up 1-2 cents. 

In overnight electronic trading, the March corn futures contract traded 5 1/2 cents higher at $6.21 1/2 per bushel. The March soybean futures contract traded 13 1/4 cents higher at $13.89 1/4 per bushel. The March wheat futures contract traded 3/4 of a cent higher at $7.85 1/2. For March soymeal futures, the contract traded $4.20 per short ton higher at $373.40, and March soyoil up $0.18 at $57.49.

The outside markets are mildly supportive for Friday's grain trade. The real factors driving the higher early calls are the higher overnight markets. 

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