Early calls for commodities
DES MOINES, Iowa (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, September 19, 2011 are lower.
Corn is seen 6-8 cents lower, soybeans 7-9 cents lower and wheat 7-9 cents lower.
In overnight electronic trading, the Dec. corn futures contract traded 6 1/2 cents lower at $6.85 1/2 per bushel. The Nov. soybean futures contract traded 9 cents lower at $13.46 1/2 per bushel. The Dec. wheat futures contract traded 8 cents lower at $6.80 1/4. For Dec. soymeal futures, the contract traded $2.20 per short ton lower at $350.90 and Dec. soyoil $0.57 higher at $56.29.
The outside markets are not supportive for Monday's grain trade. The real factors driving the calls are the lower overnight markets.
Around the world, the economic markets are pressured by the drama around Greece's near debt default.