Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, July 13, 2011 are mostly higher. Corn is seen opening 3-5 cents higher, soybeans up 7-9 cents, and wheat 1-2 cents lower.
In overnight electronic trading, the Dec. corn futures contract traded 3 1/2 cents higher at $6.61 1/2 per bushel. The Nov. soybean futures contract traded 8 1/4 cents higher at $13.66 1/2 per bushel. The Sep. wheat futures contract traded 2 3/4 cents lower at $6.69 1/4. For Dec. soymeal futures, the contract traded $0.20 higher at $356.90 and Dec. soyoil $0.44 higher at $57.76.
The outside markets are mildly supportive for Wednesday's grain trade. The real factors driving the calls are the mostly higher overnight markets.