Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, May 2, 2011 are mostly lower. Corn and soybeans are seen 2-3 cents lower, and wheat opening 1-2 cents higher.
In overnight electronic trading, the July corn futures contract traded 4 3/4 cents lower at $7.51 3/4 per bushel. The July soybean futures contract traded 4 3/4 cents lower at $13.89 1/4 per bushel. The July wheat futures contract traded 2 1/2 cents higher at $8.03 3/4. For July soymeal futures, the contract traded $1.40 lower at $362.20, and July soyoil $0.28 lower at $58.30.
The outside markets are partially supportive for Monday's grain trade. The real factors driving the mostly lower early calls are the weaker overnight markets.