Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, August 10, 2011 are higher. Corn is seen opening 7-9 cents higher, soybeans up 13-15 cents, and wheat 10-12 cents higher.
In overnight electronic trading, the Dec. corn futures contract traded 9 cents higher at $6.97 1/2 per bushel. The Nov. soybean futures contract traded 15 1/4 cents higher at $13.15 per bushel. The Sep. wheat futures contract traded 14 cents higher at $6.85 3/4. For Dec. soymeal futures, the contract traded $4.80 higher at $348.40 and Dec. soyoil $0.76 higher at $54.38.
The outside markets are mildly supportive for Tuesday's grain trade. The real factors driving the calls are the higher overnight markets.