Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, March 11, 2011 are sharply lower. Corn is seen opening 17-18 cents lower, soybeans 25-27 cents lower, and wheat 17-19 cents lower.
In overnight electronic trading, the May corn futures contract traded 19 1/2 cents lower at $6.63 1/4 per bushel. The May soybean futures contract traded 30 cents lower at $13.25 1/4 per bushel. The May wheat futures contract traded 21 1/2 cents lower at $7.19. For May soymeal futures, the contract traded $4.70 lower at $349.00, and May soyoil $1.59 lower at $55.34.
The outside markets are not supportive for Friday's grain trade. The real factors driving the lower early calls are sharply lower overnight markets.