Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, May 13, 2011 are higher. Corn is seen opening 6-7 cents higher, soybeans 6-8 cents higher, and wheat 8-10 cents higher.
In overnight electronic trading, the July corn futures contract traded 6 1/2 cents higher at $6.87 per bushel. The July soybean futures contract traded 8 3/4 cents higher at $13.51 1/2 per bushel. The July wheat futures contract traded 8 1/4 cents higher at $7.43 3/4. For July soymeal futures, the contract traded $0.40 higher at $353.70 and July soyoil $0.39 higher at $56.85.
The outside markets are supportive for Friday's grain trade. The real factors driving the higher early calls are the stronger overnight markets.