Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, August 23, 2011 are higher. Corn is seen opening 5-7 cents higher, soybeans up 10-12 cents, and wheat 5-7 cents higher.
In overnight electronic trading, the Dec. corn futures contract traded 5 3/4 cents higher at $7.40 1/4 per bushel. The Nov. soybean futures contract traded 9 1/4 cents higher at $13.94 1/2 per bushel. The Dec. wheat futures contract traded 5 1/2 cents higher at $7.71 1/2. For Dec. soymeal futures, the contract traded $4.10 higher at $373.80 and Dec. soyoil $0.30 higher at $56.48.
The outside markets are very supportive for Tuesday's grain trade. The real factors driving the calls are the higher overnight markets.