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Early calls for commodities

03/07/2011 @ 6:43am

CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, March 7, 2011 are higher. Corn and soybeans are seen opening 2-4 cents higher, and wheat 1-2 cents lower. 

In overnight electronic trading, the May corn futures contract traded 1 3/4 cents higher at $7.29 3/4 per bushel. The May soybean futures contract traded 1 1/2 cents higher at $14.15 1/2 per bushel. The May wheat futures contract traded 3/4 of a cent lower at $8.31 1/2. For May soymeal futures, the contract traded $0.60 higher at $370.30, and May soyoil $0.12 higher at $59.60.

The outside markets are supportive for Monday's grain trade. The real factors driving the higher early calls are the slightly higher overnight markets. 

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