Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, May 18, 2011 are higher. Corn is seen opening 6-8 cents higher, soybeans 2-4 cents higher, and wheat 7-9 cents higher.
In overnight electronic trading, the July corn futures contract traded 6 cents higher at $7.26 1/4 per bushel. The July soybean futures contract traded 4 cents higher at $13.45 per bushel. The July wheat futures contract traded 10 1/2 cents higher at $7.74 1/2. For July soymeal futures, the contract traded $0.50 higher at $350.90 and July soyoil $0.49 higher at $56.53.
The outside markets are very supportive for Wednesday's grain trade. The real factors driving the higher early calls are the stronger overnight markets.