DES MOINES, Iowa (Agriculture.com)--The Early Calls for the commodities are sharply lower for Monday, October 3, 2011.

Greece's admission of missed deficit reduction targets has the world markets in a tailspin including the CME Group farm futures Monday.

In overnight electronic trading, the Dec. corn futures contract traded 14 1/2 cents lower at $5.78 per bushel. The Nov. soybean futures contract traded 11 1/4 cents lower at $11.67 3/4 per bushel. The Dec. wheat futures contract traded 7 cents lower at $6.02 1/4. For Dec. soymeal futures, the contract traded $4.20 per short ton lower at $304.40 and Dec. soyoil $0.25 lower at $49.96. 

The outside markets are not supportive for Monday's grain trade. The real factors driving the calls are the sharply lower overnight markets.