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Early calls for commodities

07/22/2011 @ 7:54am

CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, July 2, 2011 are lower on easing weather concerns and profit-taking. Corn is seen opening 3-5 cents lower, soybeans up 1-2 cents, and wheat 1-2 cents lower. 

In overnight electronic trading, the Dec. corn futures contract traded 2 cents lower at $6.71 per bushel. The Nov. soybean futures contract traded 2 1/2 cents lower at $13.85 1/2 per bushel. The Sep. wheat futures contract traded 1 1/2 cents lower at $6.75 3/4. For Dec. soymeal futures, the contract traded $2.50 lower at $366.40 and Dec. soyoil $0.16 higher at $57.55. 

The outside markets are supportive for Friday's grain trade. The real factors driving the calls are the lower overnight markets. 

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