Early calls for commodities
DES MOINES, Iowa (Agriculture.com)-- After a short-lived rally, the CME Group's grain price direction is expected lower Wednesday.
The Early Calls for commodities are lowers Wednesday, September 28, 2011.
The pre-opening prices for corn and soybeans are seen 4-6 cents lower, and wheat 3-5 cents lower.
In overnight electronic trading, the Dec. corn futures contract traded 6 cents lower at $6.46 1/4 per bushel. The Nov. soybean futures contract traded 6 1/4 cents lower at $12.56 3/4 per bushel. The Dec. wheat futures contract traded 3 1/2 cents lower at $6.54 3/4. For Dec. soymeal futures, the contract traded $1.30 per short ton lower at $329.20 and Dec. soyoil $0.06 higher at $52.84.
The outside markets are mildly supportive for Wednesday's grain trade. The real factors driving the calls are the lower overnight markets.