Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, January 10, 2011 are higher. Corn is seen opening 4-6 cents higher, soybeans 6-8 higher, and wheat 3-5 cents higher.
In overnight electronic trading, the March corn futures contract traded 6 cents higher at $6.01 per bushel. The March soybean futures contract traded 8 cents higher at $13.73 per bushel. The March wheat futures contract traded 2 3/4 cents higher at $7.76 3/4. For March soymeal futures, the contract traded $0.40 per short ton higher at $366.70, and March soyoil up $0.18 at $57.00.
The outside markets are mildly supportive for Monday's grain trade. The real factors driving the higher early calls are the higher overnight markets.