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Early calls for commodities

06/06/2011 @ 7:41am

CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, June 6, 2011 are lower. Corn is seen opening 3-5 cents lower, soybeans 4-6 cents lower, and wheat 7-9 cents lower. 

In overnight electronic trading, the July corn futures contract traded 4 3/4 cents lower at $7.49 1/4 per bushel. The July soybean futures contract traded 6 1/2 cents lower at $14.08 per bushel. The July wheat futures contract traded 9 1/4 cents lower at $7.64 1/2. For July soymeal futures, the contract traded $0.10 higher at $369.40 and July soyoil $0.36 lower at $58.37.

The outside markets are not supportive for Monday's grain trade. The real factors driving the lower early calls are the weaker overnight markets.

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