Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, July 11, 2011 are lower. Corn is seen 7-9 cents lower, soybeans 7-9 cents lower, and wheat 12-14 cents lower.
In overnight electronic trading, the Dec. corn futures contract traded 6 3/4 cents lower at $6.30 1/4 per bushel. The Nov. soybean futures contract traded 6 1/2 cents lower at $13.40 per bushel. The Sep. wheat futures contract traded 16 3/4 cents lower at $6.34 1/2. For Dec. soymeal futures, the contract traded $1.70 lower at $348.30 and Dec. soyoil $0.30 lower at $57.01.
The outside markets are not supportive for Monday's grain trade. The real factors driving the calls are the lower overnight markets.