Early calls for commodities
DES MOINES, Iowa (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, September 7, 2011 are higher. Corn is seen opening 7-9 cents higher, wheat 6-8 cents higher and soybeans 7-9 cents higher.
In overnight electronic trading, the Dec. corn futures contract traded 7 cents higher at $7.62 3/4 per bushel. The Nov. soybean futures contract traded 9 1/4 cents higher at $14.31 3/4 per bushel. The Dec. wheat futures contract traded 7 1/4 cents higher at $7.67 1/4. For Dec. soymeal futures, the contract traded $3.50 higher at $378.70 and Dec. soyoil $0.47 higher at $58.51.
The outside markets are supportive for Wednesday's grain trade. The real factors driving the calls are the higher overnight markets.