Grains seen starting higher
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, August 17, 2010 are mixed. The early calls for corn are 2-4 cents higher, soybeans up 3-5 cents and wheat up 7-9.
In overnight electronic trading, the Dec. corn futures contract traded 2 1/2 cents higher at $4.25 per bushel. The Nov. soybean futures contract traded 3 3/4 cents higher at $10.35 1/4 per bushel. The Sep. wheat futures contract traded 11 3/4 cents higher at $7.08. For Dec. soymeal futures, the contract traded $1.20 per short ton higher at $296.60, and Dec. soyoil up 0.33 point at $42.40.
The outside markets are supportive for Tuesday's grain trade. The real factor driving the higher early calls are the higher overnight markets.