Early calls for commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, September 9, 2011 are higher. Corn and wheat are seen opening 1-2 cents higher, and soybeans up 4-6 cents.
In overnight electronic trading, the Dec. corn futures contract traded 1/2 of a cent higher at $7.34 1/2 per bushel. The Nov. soybean futures contract traded 7 cents higher at $14.25 1/4 per bushel. The Dec. wheat futures contract traded steady at $7.38. For Dec. soymeal futures, the contract traded $3.10 higher at $375.20 and Dec. soyoil $0.08 higher at $58.41.
The outside markets are not supportive for Friday's grain trade. The real factors driving the calls are the higher overnight markets.