Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, June 8, 2011 are lower. Corn is seen opening 1-2 cents lower, soybeans 5-7 cents lower, and wheat 1-2 cents lower.
In overnight electronic trading, the July corn futures contract traded 1 3/4 cent lower at $7.35 1/2 per bushel. The July soybean futures contract traded 7 1/2 cents lower at $13.99 1/4 per bushel. The July wheat futures contract traded 1/4 of a cent lower at $7.33 1/2. For July soymeal futures, the contract traded $1.50 lower at $366.50 and July soyoil $0.19 lower at $57.74.
The outside markets are not supportive for Wednesday's grain trade. The real factors driving the lower early calls are the weaker overnight markets.