Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, July 26, 2011 are higher. Corn is seen opening 5-7 cents higher, soybeans up 7-9 cents, and wheat 2-4 cents higher.
In overnight electronic trading, the Dec. corn futures contract traded 4 1/2 cents higher at $6.79 per bushel. The Nov. soybean futures contract traded 9 1/2 cents higher at $13.81 1/2 per bushel. The Sep. wheat futures contract traded 4 1/2 cents higher at $6.93. For Dec. soymeal futures, the contract traded $3.80 higher at $366.90 and Dec. soyoil $0.08 higher at $57.03.
The outside markets are supportive for Tuesday's grain trade. The real factors driving the calls are the higher overnight markets.