Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, June 14, 2011 are lower. Corn is seen opening 7-9 cents lower, soybeans 3-5 cents lower, and wheat 2-4 cents lower.
In overnight electronic trading, the July corn futures contract traded 11 3/4 cents lower at $7.70 3/4 per bushel. The July soybean futures contract traded 5 1/4 cents lower at $13.771 /2 per bushel. The July wheat futures contract traded 2 3/4 cents lower at $7.40 1/4. For July soymeal futures, the contract traded $2.30 lower at $367.80 and July soyoil $0.09 lower at $56.73.
The outside markets are mildly supportive for Tuesday's grain trade. The real factors driving the lower early calls are the weaker overnight markets.