Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, July 5, 2011 are sharply higher. Corn is seen opening 10-12 cents higher, soybeans 10-12 cents higher and wheat 18-20 cents higher.
In overnight electronic trading, the Dec. corn futures contract traded 12 cents higher at $6.08 3/4 per bushel. The Nov. soybean futures contract traded 13 3/4 cents higher at $13.26 1/4 per bushel. The Sep. wheat futures contract traded 23 1/4 cents higher at $6.35 1/2. For Dec. soymeal futures, the contract traded $2.80 higher at $343.80 and Dec. soyoil $0.32 higher at $56.62. The outside markets are not supportive for Tuesday's grain trade. The real factors driving the calls are the higher overnight markets.