Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, August 31, 2011 are lower. Corn and soybeans are seen opening 4-6 cents lower, wheat 6-8 cents lower.
In overnight electronic trading, the Dec. corn futures contract traded 4 3/4 cents lower at $7.70 1/2 per bushel. The Nov. soybean futures contract traded 4 3/4 cents lower at $14.52 1/4 per bushel. The Dec. wheat futures contract traded 6 cents lower at $7.84 3/4. For Dec. soymeal futures, the contract traded $0.60 lower at $388.00 and Dec. soyoil $0.25 lower at $58.51.
The outside markets are mildly supportive for Wednesday's grain trade. The real factors driving the calls are the lower overnight markets.