Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Thursday, March 24, 2011 are mostly higher. Corn is seen opening 1-2 cents higher, soybeans 2-4 cents higher, and wheat 1-2 cents lower.
In overnight electronic trading, the May corn futures contract traded even at $6.81 per bushel. The May soybean futures contract traded 3 cents higher at $13.54 1/4 per bushel. The May wheat futures contract traded 1 1/2 cents lower at $7.12 3/4. For May soymeal futures, the contract traded $0.20 higher at $362.00, and May soyoil $0.07 higher at $55.55.
The outside markets are supportive for Thursday's grain trade. The real factors driving the higher early calls are the slightly higher overnight markets.
In addition, the USDA Weekly Export Sales will be released at 7:30am CST.