Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, March 4, 2011 are higher. Corn is seen opening 3-5 cents higher, soybeans 3-5 cents higher and wheat up 7-9 cents.
In overnight electronic trading, the May corn futures contract traded 1 3/4 cents higher at $7.38 1/2 per bushel. The May soybean futures contract traded 5 3/4 cents higher at $14.17 3/4 per bushel. The May wheat futures contract traded 9 cents higher at $8.32 1/2. For May soymeal futures, the contract traded $0.40 higher at $372.90, and May soyoil $0.51 higher at $59.28.
The outside markets are supportive for Friday's grain trade. The real factors driving the higher early calls are the higher overnight markets.