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Early calls for commodities

05/17/2011 @ 7:48am

CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, May 17, 2011 are higher. Corn is seen opening 6-8 cents higher, soybeans 2-4 cents higher, and  wheat 1-2 cents higher. 

In overnight electronic trading, the July corn futures contract traded 5 1/4 cents higher at $7.02 3/4 per bushel. The July soybean futures contract traded 4 1/2 cents higher at $13.31 per bushel. The July wheat futures contract traded even at $7.36 1/2. For July soymeal futures, the contract traded $1.20 higher at $346.90 and July soyoil $0.22 higher at $56.13.

The outside markets are mildly supportive for Tuesday's grain trade. The real factors driving the higher early calls are the stronger overnight markets.


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