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Early calls for commodities

02/01/2011 @ 7:37am

CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, February 1, 2011 are mostly lower. Corn is seen opening 1-2 cents lower, soybeans 1-2 cents higher and wheat down 1-2 cents. 

In overnight electronic trading, the March corn futures contract traded 1/4 of a cent lower at $6.59 1/4 per bushel. The March soybean futures contract traded 2 1/4 cents higher at $14.15 1/4 per bushel. The March wheat futures contract traded 3 3/4 cents lower at $8.37. For March soymeal futures, the contract traded $0.80 per short ton higher at $381.10, and March soyoil down 0.06 at $57.82.

The outside markets are mildly supportive for Tuesday's grain trade. The real factors driving the mixed early calls are the mostly lower overnight markets and a pressured crude oil market. 

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