Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, March 29, 2011 are higher. Corn is seen opening 2-4 cents higher, soybeans 7-9 cents higher, and wheat 3-4 cents higher.
In overnight electronic trading, the May corn futures contract traded 1 1/4 cents higher at $6.72 1/4 per bushel. The May soybean futures contract traded 6 1/4 cents higher at $13.54 3/4 per bushel. The May wheat futures contract traded 3 1/2 cents higher at $7.28 3/4. For May soymeal futures, the contract traded $0.20 higher at $355.60, and May soyoil $0.10 higher at $56.63.
The outside markets are not supportive for Tuesday's grain trade. The real factors driving the higher early calls are the higher overnight markets.