Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, August 9, 2011 are mostly lower. Corn is seen opening 2-4 cents lower, soybeans down 3-5 cents, and wheat 1-2 cents higher.
In overnight electronic trading, the Dec. corn futures contract traded 2 1/4 cents lower at $6.83 3/4 per bushel. The Nov. soybean futures contract traded 3 1/2 cents lower at $13.08 per bushel. The Sep. wheat futures contract traded 3/4 of a cent higher at $6.57 1/4. For Dec. soymeal futures, the contract traded $2.10 higher at $348.60 and Dec. soyoil $0.45 lower at $53.90.
The outside markets are mildly supportive for Tuesday's grain trade. The real factors driving the calls are the mostly lower overnight markets.