Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, May 20, 2011 are lower. Corn is seen opening 1-2 cents lower, soybeans 5-7 cents lower, and wheat 14-16 cents lower.
In overnight electronic trading, the July corn futures contract traded 1 1/2 cents lower at $7.46 3/4 per bushel. The July soybean futures contract traded 7 1/2 cents lower at $13.72 per bushel. The July wheat futures contract traded 17 1/2 cents lower at $7.94 1/2. For July soymeal futures, the contract traded $1.40 lower at $360.00 and July soyoil $0.36 lower at $57.10.
The outside markets are not supportive for Thursday's grain trade. The real factors driving the lower early calls are the weaker overnight markets.