Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, August 26, 2011 are mostly lower. Corn is seen opening 1-2 cents higher, soybeans down 1-2 cents and wheat down 3-5 cents.
In overnight electronic trading, the Dec. corn futures contract traded 1 cent higher at $7.44 1/2 per bushel. The Nov. soybean futures contract traded 1 cent lower at $13.91 3/4 per bushel. The Dec. wheat futures contract traded 4 3/4 cents lower at $7.83. For Dec. soymeal futures, the contract traded $0.70 lower at $374.50 and Dec. soyoil $0.09 lower at $56.04.
The outside markets are mildly supportive for Friday's grain trade. The real factors driving the calls are the mostly lower overnight markets.