Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, August 22, 2011 are higher. Corn is seen opening 7-9 cents higher, soybeans up 10-12 cents, and wheat 10-12 cents higher.
In overnight electronic trading, the Dec. corn futures contract traded 6 1/2 cents higher at $7.31 3/4 per bushel. The Nov. soybean futures contract traded 12 cents higher at $13.80 1/2 per bushel. The Dec. wheat futures contract traded 9 3/4 cents higher at $7.71. For Dec. soymeal futures, the contract traded $4.50 higher at $365.40 and Dec. soyoil $0.33 higher at $56.28.
The outside markets are very supportive for Monday's grain trade. The real factors driving the calls are the higher overnight markets.