Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, March 21, 2011 are higher. Corn is seen opening 6-8 cents higher, soybeans 5-7 cents higher, and wheat 9-11 cents higher.
In overnight electronic trading, the May corn futures contract traded 6 3/4 cents higher at $6.90 1/4 per bushel. The May soybean futures contract traded 5 cents higher at $13.67 1/2 per bushel. The May wheat futures contract traded 9 1/2 cents higher at $7.32 1/2. For May soymeal futures, the contract traded $0.60 lower at $368.50, and May soyoil $0.02 higher at $55.79.
The outside markets are mildly supportive for Monday's grain trade. The real factors driving the higher early calls are higher overnight markets.