Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, June 7, 2011 are mostly lower. Corn is seen opening 1-2 cents lower, soybeans 3-5 cents higher, and wheat 2-4 cents lower.
In overnight electronic trading, the July corn futures contract traded 1 3/4 cents lower at $7.30 1/4 per bushel. The July soybean futures contract traded 3 3/4 cents higher at $13.87 per bushel. The July wheat futures contract traded 3 1/4 cents lower at $7.40 3/4. For July soymeal futures, the contract traded $2.10 higher at $361.50 and July soyoil $0.15 higher at $58.18.
The outside markets are mildly supportive for Tuesdy's grain trade. The real factors driving the mostly lower early calls are the weaker overnight markets.