Early calls for commodities
DES MOINES, Iowa (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, September 13, 2011 are lower. Corn and wheat are seen opening 4-6 cents lower, and soybeans down 9-11 cents.
In overnight electronic trading, the Dec. corn futures contract traded 5 cents lower at $7.40 1/2 per bushel. The Nov. soybean futures contract traded 9 3/4 cents lower at $13.86 1/4 per bushel. The Dec. wheat futures contract traded 4 cents lower at $7.23 1/4. For Dec. soymeal futures, the contract traded $2.80 lower at $363.00 and Dec. soyoil $0.24 lower at $57.51.
The outside markets are not supportive for Tuesday's grain trade. The real factors driving the calls are the lower overnight markets.