Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, April 5, 2011 are mostly lower. Corn is seen opening 1-3 cents lower, soybeans 4-6 cents lower, and wheat 3-5 cents higher.
In overnight electronic trading, the May corn futures contract traded 3 1/4 cents lower at $7.57 per bushel. The May soybean futures contract traded 8 1/2 cents lower at $13.75 1/2 per bushel. The May wheat futures contract traded 3 3/4 cents higher at $7.93 3/4. For May soymeal futures, the contract traded $2.10 lower at $354.90, and May soyoil $0.16 lower at $58.72.
The outside markets are not supportive for Tuesday's grain trade. The real factors driving the mostly lower early calls are the weak overnight markets.