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Early calls for the commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Thursday, March 10, 2011 are subject to the USDA March Supply/Demand Report Thursday to be released at 7:30am CST.
In overnight electronic trading, the May corn futures contract traded 10 1/4 cents lower at $6.90 3/4 per bushel. The May soybean futures contract traded 14 1/2 cents lower at $13.34 1/2 per bushel. The May wheat futures contract traded 4 1/2 cents lower at $7.54 3/4. For May soymeal futures, the contract traded $1.50 lower at $351.40, and May soyoil $0.90 lower at $56.22.
The outside markets are not supportive for Thurday's grain trade. The real factors driving the early calls are the USDA Supply/Demand numbers and the weak overnight markets.