Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, July 6, 2011 are lower. Corn and wheat are seen opening 7-9 cents lower, and soybeans 10-12 cents lower.
In overnight electronic trading, the Dec. corn futures contract traded 7 1/4 cents lower at $6.05 1/4 per bushel. The Nov. soybean futures contract traded 12 1/4 cents lower at $13.05 3/4 per bushel. The Sep. wheat futures contract traded 10 1/2 cents lower at $6.25. For Dec. soymeal futures, the contract traded $3.30 lower at $337.60 and Dec. soyoil $0.18 lower at $56.03.
The outside markets are not supportive for Wednesday's grain trade. The real factors driving the calls are the lower overnight markets.