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Early calls for commodities

09/02/2011 @ 8:20am

DES MOINES, Iowa  (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, September 2, 2011 are higher. Corn and soybeans are seen opening 7-8 cents higher, and wheat 8-9 cents higher. 

In overnight electronic trading, the Dec. corn futures contract traded 5 1/4 cents higher at $7.43 3/4 per bushel. The Nov. soybean futures contract traded 7 1/4 cents higher at $14.41 3/4 per bushel. The Dec. wheat futures contract traded 8 cents higher at $7.69. For Dec. soymeal futures, the contract traded $0.50 lower at $383.00 and Dec. soyoil $0.44 higher at $58.67. 

The outside markets are not supportive for Friday's grain trade. The real factors driving the calls are the higher overnight markets. 

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