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Early calls for commodities

06/29/2011 @ 7:27am

CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, June 29, 2011 are sharply higher. Corn is seen opening 12-14 cents higher, soybeans 12-14 cents higher and wheat 14-16 cents higher. 

In overnight electronic trading, the Dec. corn futures contract traded 15 1/4 cents higher at $6.68 1/4 per bushel. The Nov. soybean futures contract traded 15 cents higher at $13.34 per bushel. The Sep. wheat futures contract traded 17 cents higher at $6.88 3/4. For Dec. soymeal futures, the contract traded $5.30 higher at $344.00 and Dec. soyoil $0.43 higher at $57.02

The outside markets are supportive for Wednesday's grain trade. The real factors driving the early calls are the higher overnight markets. Plus, the world players are expecting Greece to vote on a tranch from the IMF and EU for a bailout. 

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