Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, June 10, 2011 are lower. Corn is seen opening 3-5 cents lower, soybeans 5-7 cents lower, and wheat 3-5 cents lower.
In overnight electronic trading, the July corn futures contract traded 3 1/2 cents lower at $7.82 per bushel. The July soybean futures contract traded 8 3/4 cents lower at $13.85 per bushel. The July wheat futures contract traded 4 1/2 cents lower at $7.40 1/2. For July soymeal futures, the contract traded $1.90 lower at $371.00 and July soyoil $0.36 lower at $57.04.
The outside markets are not supportive for Friday's grain trade. The real factors driving the lower early calls are the weaker overnight markets.