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Early calls for commodities

03/30/2011 @ 7:40am

CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, March 30, 2011 are higher. Corn is seen opening 2-4 cents higher, soybeans 1-2 cents higher, and wheat 1-2 cents lower. 

In overnight electronic trading, the May corn futures contract traded 1 3/4 cents higher at $6.73 1/2 per bushel. The May soybean futures contract traded 1 1/4 cents higher at $13.62 3/4 per bushel. The May wheat futures contract traded 3 cents lower at $7.34 1/4. For May soymeal futures, the contract traded $0.60 lower at $358.00, and May soyoil $0.07 higher at $57.09.

The outside markets are not supportive for Wednesday's grain trade. The real factors driving the mostly higher early calls are the higher overnight markets.

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