Early calls for commodities
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.