Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, April 11, 2011 are mostly lower. Corn is seen opening 2-4 cents lower, soybeans 4-6 cents lower, and wheat 2-4 cents lower.
In overnight electronic trading, the May corn futures contract traded 2 3/4 cents higher at $7.70 3/4 per bushel. The May soybean futures contract traded 8 1/4 cents lower at $13.84 per bushel. The May wheat futures contract traded 2 1/2 cents lower at $7.95. For May soymeal futures, the contract traded $3.50 lower at $353.70, and May soyoil $0.25 higher at $59.52.
The outside markets are not supportive for Monday's grain trade. The real factors driving the lower early calls are the mostly weaker overnight markets.