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Early calls for commodities

08/24/2011 @ 7:35am

CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, August 24, 2011 are lower. Corn and soybeans are seen opening 2-4 cents lower, and wheat 4-6 cents lower. 

In overnight electronic trading, the Dec. corn futures contract traded 2 cents lower at $7.41 1/2 per bushel. The Nov. soybean futures contract traded 2 1/2 cents lower at $13.94 3/4 per bushel. The Dec. wheat futures contract traded 4 1/4 cents lower at $7.80 1/4. For Dec. soymeal futures, the contract traded $0.10 lower at $375.40 and Dec. soyoil $0.04 lower at $56.17. 

The outside markets are mildly supportive for Wednesday's grain trade. The real factors driving the calls are the lower overnight markets. 

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