Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Thursday, July 7, 2011 are mixed. Corn is seen opening 1-2 cents higher, soybeans up 3-5 cents, and wheat 7-9 cents lower.
In overnight electronic trading, the Dec. corn futures contract traded 3/4 of a cent higher at $6.09 1/4 per bushel. The Nov. soybean futures contract traded 4 1/2 cents higher at $13.23 per bushel. The Sep. wheat futures contract traded 6 cents lower at $6.20 1/2. For Dec. soymeal futures, the contract traded $0.40 lower at $342.80 and Dec. soyoil $0.28 higher at $56.67.
The outside markets are not supportive for Thursday's grain trade. The real factors driving the calls are the mostly higher overnight markets.