Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, March 28, 2011 are higher. Corn is seen opening 3-5 cents higher, soybeans 7-9 cents higher, and wheat 3-4 cents higher.
In overnight electronic trading, the May corn futures contract traded 5 cents higher at $6.94 1/2 per bushel. The May soybean futures contract traded 9 3/4 cents higher at $13.68 per bushel. The May wheat futures contract traded 4 1/4 cents higher at $7.37 1/2. For May soymeal futures, the contract traded $2.40 higher at $359.60, and May soyoil $0.12 higher at $56.96.
The outside markets are not supportive for Monday's grain trade. The real factors driving the higher early calls are the higher overnight markets.