Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Thursday, June 21, 2011 are lower. Corn is seen opening 8-10 cents lower, soybeans 1-2 cents lower and wheat 2-3 cents lower.
In overnight electronic trading, the July corn futures contract traded 10 1/2 cents lower at $6.67 per bushel. The July soybean futures contract traded 1 1/4 cents lower at $13.29 per bushel. The July wheat futures contract traded 2 cents lower at $6.36 1/4. For July soymeal futures, the contract traded $0.10 lower at $347.00 and July soyoil $0.38 lower at $55.77.
The outside markets are not supportive for Thursday's grain trade. The real factors driving the early calls are the lower overnight markets.