Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, May 24, 2011 are mostly lower. Corn is seen opening 3-5 cents lower, soybeans 5-7 cents higher, and wheat 5-6 cents lower.
In overnight electronic trading, the July corn futures contract traded 5 cents lower at $7.49 per bushel. The July soybean futures contract traded 6 1/2 cents lower at $13.80 1/4 per bushel. The July wheat futures contract traded 6 cents lower at $7.97. For July soymeal futures, the contract traded $2.50 higher at $361.30 and July soyoil $0.19 higher at $57.41.
The outside markets are supportive for Tuesday's grain trade. The real factors driving the mixed early calls are the mostly weaker overnight markets.