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Early calls for commodities

06/02/2011 @ 7:53am

CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Thursday, June 2, 2011 are higher. Corn is seen opening 1-2 cents higher, soybeans 4-6 cents higher, and wheat 9-10 cents higher. 

In overnight electronic trading, the July corn futures contract traded steady at $7.58 1/2 per bushel. The July soybean futures contract traded 6 1/4 cents higher at $13.92 1/2 per bushel. The July wheat futures contract traded 9 1/2 cents higher at $7.68 3/4. For July soymeal futures, the contract traded unchanged at $360.70 and July soyoil $0.28 higher at $58.71.

The outside markets are supportive for Thursday's grain trade. The real factors driving the higher early calls are the stronger overnight markets.

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