Early calls for the commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, January 12, 2011 are subject to the USDA's January Crop Production and Supply/Demand Reports, to be released at 7:30am CST Wednesday.
In overnight electronic trading, the March corn futures contract traded 5 1/4 cents higher at $6.12 1/4 per bushel. The March soybean futures contract traded 12 1/4 cents higher at $13.68 3/4 per bushel. The March wheat futures contract traded 11 1/2 cents higher at $7.71. For March soymeal futures, the contract traded $3.90 per short ton higher at $367.20, and March soyoil up $0.20 at $56.84.
The outside markets are supportive for Wednesday's grain trade. The real factors driving the early calls will be the data from the USDA Wednesday morning.