Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, April 20, 2011 are higher. Corn and soybeans are seen opening 12-14 cents higher, and wheat 13-15 cents higher.
In overnight electronic trading, the July corn futures contract traded 15 1/2 cents higher at $7.72 1/2 per bushel. The July soybean futures contract traded 14 3/4 cents higher at $13.68 3/4 per bushel. The July wheat futures contract traded 15 cents higher at $8.36. For May soymeal futures, the contract traded $3.10 higher at $349.50, and May soyoil $0.72 higher at $58.25.
The outside markets are supportive for Wednesday's grain trade. The real factors driving the higher early calls are the stronger overnight markets.