Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, March 1, 2011 are higher. Corn is seen opening 2-4 cents higher, soybeans 5-7 cents higher and wheat down 1-2 cents.
In overnight electronic trading, the May corn futures contract traded 2 cents higher at $7.33 per bushel. The May soybean futures contract traded 7 cents higher at $13.71 3/4 per bushel. The May wheat futures contract traded 1 cent lower at $8.16. For May soymeal futures, the contract traded unchanged at $361.90, and May soyoil $0.37 higher at $57.70.
The outside markets are mildly supportive for Tuesdy's grain trade. The real factors driving the mostly higher early calls are the higher overnight markets.