Early calls for commodities
DES MOINES, Iowa (Agriculture.com)--The Early Calls for the commodities are higher for Wednesday, October 5, 2011.
Unlike the risk-off mentality that this farm market has been fighting lately, there is a risk-on attitude that is expected to support today's pricers.
In overnight electronic trading, the Dec. corn futures contract traded 9 1/2 cents higher at $5.96 3/4 per bushel. The Nov. soybean futures contract traded 12 cents higher at $11.72 per bushel. The Dec. wheat futures contract traded 10 1/4 cents higher at $6.14 1/4. For Dec. soymeal futures, the contract traded $4.50 per short ton higher at $306.60 and Dec. soyoil $0.59 higher at $49.59.
The outside markets are supportive for Wednesday's grain trade. The real factors driving the calls are the higher overnight markets.