Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, August 15, 2011 are higher. Corn is seen opening 5-7 cents higher, soybeans up 7-8 cents, and wheat 7-9 cents higher
In overnight electronic trading, the Dec. corn futures contract traded 5 cents higher at $7.19 1/2 per bushel. The Nov. soybean futures contract traded 8 cents higher at $13.42 3/4 per bushel. The Sep. wheat futures contract traded 9 3/4 cents higher at $7.12 1/4. For Dec. soymeal futures, the contract traded $2.50 higher at $354.60 and Dec. soyoil $0.48 higher at $55.13.
The outside markets are very supportive for Monday's grain trade. The real factors driving the calls are the higher overnight markets.