Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, April 26, 2011 are lower. Corn is seen 3-4 cents lower, soybeans 7-8 cents lower and wheat opening 3-5 cents lower.
In overnight electronic trading, the July corn futures contract traded 4 1/4 cents lower at $7.64 1/4 per bushel. The July soybean futures contract traded 9 3/4 cents lower at $13.86 3/4 per bushel. The July wheat futures contract traded 6 1/2 cents lower at $8.54 3/4. For July soymeal futures, the contract traded $3.10 lower at $362.80, and July soyoil $0.07 lower at $58.75.
The outside markets are not supportive for Tuesday's grain trade. The real factors driving the lower early calls are the weaker overnight markets.