Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, May 25, 2011 are higher. Corn is seen opening 3-5 cents higher, soybeans 6-8 cents higher, and wheat 3-5 cents higher.
In overnight electronic trading, the July corn futures contract traded 4 1/2 cents higher at $7.37 3/4 per bushel. The July soybean futures contract traded 8 3/4 cents higher at $13.81 per bushel. The July wheat futures contract traded 3 1/2 cents higher at $7.83 1/4. For July soymeal futures, the contract traded $0.40 higher at $359.60 and July soyoil $0.40 higher at $57.88.
The outside markets are not as supportive for Wednesday's grain trade. The real factors driving the higher early calls are the stronger overnight markets.