Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, April 1, 2011 are higher. Corn is seen opening 25-30 cents higher (old-crop), soybeans 2-4 cents higher, and wheat 1-2 cents higher.
In overnight electronic trading, the May corn futures contract traded 41 1/2 cents higher at $7.34 3/4 per bushel. The May soybean futures contract traded 5 cents lower at $14.05 1/4 per bushel. The May wheat futures contract traded 1/4 of a cent higher at $7.63 1/2. For May soymeal futures, the contract traded $1.70 lower at $369.00, and May soyoil $0.13 lower at $58.65.
The outside markets are not supportive for Thursday's grain trade. The real factors driving the mostly higher early calls are the mostly higher overnight markets.