Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, July 8, 2011 are higher. Corn, soybeans, and wheat are seen opening 3-5 cents higher.
In overnight electronic trading, the Dec. corn futures contract traded 5 cents higher at $6.20 1/2 per bushel. The Nov. soybean futures contract traded 2 3/4 cents higher at $13.40 1/2 per bushel. The Sep. wheat futures contract traded 2 1/2 cents higher at $6.37. For Dec. soymeal futures, the contract traded $0.90 higher at $346.00 and Dec. soyoil $0.06 lower at $57.57.
The outside markets are not completely supportive for Friday's grain trade. The real factors driving the calls are the higher overnight markets.