Grains seen higher
DES MOINES, Iowa (Agriculture.com) The Early Calls for commodities are higher Tuesday.
As rumors swirl of China set to buy U.S. corn and favorable outside market support, the CME Group farm markets will start the day's trade higher Tuesday, September 20, 2001..
The pre-opening prices for corn are seen 9-10 cents higher, soybeans 10-12 cents higher and and wheat 8-10 cents higher.
In overnight electronic trading, the Dec. corn futures contract traded 9 1/4 cents higher at $7.01 1/2 per bushel. The Nov. soybean futures contract traded 13 1/2 cents higher at $13.49 1/2 per bushel. The Dec. wheat futures contract traded 10 1/2 cents higher at $6.83 1/2. For Dec. soymeal futures, the contract traded $4.10 per short ton higher at $352.60 and Dec. soyoil $0.39 higher at $56.23.
The outside markets are supportive for Tuesday's grain trade. The real factors driving the calls are the higher overnight markets.