Early calls for the commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, January 14, 2011 are lower. Corn is seen starting 3-5 cents lower, soybeans 4-6 lower, and wheat down 10-12 cents.
In overnight electronic trading, the March corn futures contract traded 3 1/2 cents lower at $6.39 per bushel. The March soybean futures contract traded 4 3/4 cents lower at $14.11 1/4 per bushel. The March wheat futures contract traded 10 1/4 cents lower at $7.73 1/4. For March soymeal futures, the contract traded $2.50 per short ton lower at $381.10, and March soyoil down $0.42 at $57.29.
The outside markets are not supportive for Friday's grain trade. The real factors driving the early calls will be the lower overnight trading.