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Early calls for commodities

03/23/2011 @ 7:22am

CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, March 23, 2011 are higher. Corn is seen opening 1-2 cents higher, soybeans 2-4 cents higher, and wheat 3-4 cents higher. 

In overnight electronic trading, the May corn futures contract traded 3/4 of a cent higher at $6.87 3/4 per bushel. The May soybean futures contract traded 2 1/2 cents higher at $13.68 per bushel. The May wheat futures contract traded 3 1/2 cents higher at $7.25 3/4. For May soymeal futures, the contract traded $1.20 higher at $367.60, and May soyoil $0.04 higher at $55.90.

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

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