Early calls for commodities
DES MOINES, Iowa (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, June 21, 2011 are sharply higher. Corn is seen opening 10-11 cents higher, soybeans 8-10 cents higher and wheat 7-8 cents higher.
In overnight electronic trading, the July corn futures contract traded 13 1/2 cents higher at $7.14 per bushel. The July soybean futures contract traded 11 cents higher at $13.46 3/4 per bushel. The July wheat futures contract traded 8 3/4 cents higher at $6.68. For July soymeal futures, the contract traded $2.10 higher at $352.10 and July soyoil $0.50 higher at $56.52.
The outside markets are supportive for Tuesday's grain trade. The real factors driving the early calls are the sharply higher overnight markets.