Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, June 27, 2011 are lower. Corn is seen opening 4-6 cents lower, soybeans 2-4 cents lower and wheat 6-8 cents lower.
In overnight electronic trading, the July corn futures contract traded 4 cents at $6.66 per bushel. The July soybean futures contract traded 1 3/4 cents lower at $13.18 1/2 per bushel. The July wheat futures contract traded 10 3/4 cents lower at $6.25. For July soymeal futures, the contract traded $0.90 higher at $340.80 and July soyoil $0.42 lower at $54.80.
The outside markets are not supportive for Monday's grain trade. The real factors driving the early calls are the lower overnight markets.