Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, April 12, 2011 are lower. Corn is seen opening 4-6 cents lower, soybeans 7-9 cents lower, and wheat 6-8 cents lower.
In overnight electronic trading, the May corn futures contract traded 8 cents lower at $7.68 per bushel. The May soybean futures contract traded 10 cents lower at $13.58 1/2 per bushel. The May wheat futures contract traded 10 3/4 cents lower at $7.87 1/2. For May soymeal futures, the contract traded $1.40 lower at $348.30, and May soyoil $0.36 lower at $58.46.
The outside markets are not supportive for Tuesday's grain trade. The real factors driving the lower early calls are the mostly weaker overnight markets.