Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Thursday, May 19, 2011 are higher. Corn is seen opening 6-8 cents higher, soybeans 2-4 cents higher, and wheat 10-12 cents higher.
In overnight electronic trading, the July corn futures contract traded 6 1/2 cents higher at $7.56 1/4 per bushel. The July soybean futures contract traded 3 cents higher at $13.83 per bushel. The July wheat futures contract traded 10 cents higher at $8.27. For July soymeal futures, the contract traded $2.10 higher at $363.10 and July soyoil $0.25 higher at $57.55.
The outside markets are very supportive for Thursday's grain trade. The real factors driving the higher early calls are the stronger overnight markets.