Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, May 10, 2011 are higher. Corn is seen opening 6-7 cents higher, soybeans 6-8 cents higher, and wheat opening 12-13 cents higher.
In overnight electronic trading, the July corn futures contract traded 6 cents higher at $7.13 1/2 per bushel. The July soybean futures contract traded 7 3/4 cents higher at $13.42 3/4 per bushel. The July wheat futures contract traded 15 3/4 cents higher at $8.06 1/4. For July soymeal futures, the contract traded $2.20 higher at $352.60 and July soyoil $0.26 higher at $56.55.
The outside markets are not supportive for Tuesday's grain trade. The real factors driving the higher early calls are the stronger overnight markets.