Early calls for commodities
DES MOINES, Iowa (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, September 6, 2011 are lower. Corn is seen opening 5-7 cents lower, wheat 7-9 cents lower and soybeans 14-16 cents lower.
In overnight electronic trading, the Dec. corn futures contract traded 5 1/2 cents lower at $7.54 1/2 per bushel. The Nov. soybean futures contract traded 16 1/2 cents lower at $14.29 1/4 per bushel. The Dec. wheat futures contract traded 9 1/4 cents lower at $7.66 1/2. For Dec. soymeal futures, the contract traded $3.50 lower at $381.50 and Dec. soyoil $0.49 lower at $57.77.
The outside markets are not supportive for Tuesday's grain trade. The real factors driving the calls are the lower overnight markets.