Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, April 6, 2011 are mostly higher. Corn is seen opening 1-3 cents lower, soybeans 6-8 cents higher, and wheat 1-2 cents higher.
In overnight electronic trading, the May corn futures contract traded 2 3/4 cents lower at $7.64 per bushel. The May soybean futures contract traded 9 1/4 cents higher at $13.82 1/2 per bushel. The May wheat futures contract traded 1/2 of a cent higher at $7.86 3/4. For May soymeal futures, the contract traded $2.40 higher at $356.00, and May soyoil $0.25 higher at $59.10.
The outside markets are mildly supportive for Wednesday's grain trade. The real factors driving the mostly higher early calls are the overnight markets.