Early calls for the commodities
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Thursday, January 20, 2011 are lower. Corn is seen starting 3-5 cents lower, soybeans 2-4 lower, and wheat down 3-5 cents.
In overnight electronic trading, the March corn futures contract traded 3 3/4 cents lower at $6.37 1/2 per bushel. The March soybean futures contract traded 4 3/4 cents lower at $14.06 3/4 per bushel. The March wheat futures contract traded 4 1/2 cents lower at $7.92 3/4. For March soymeal futures, the contract traded $2.90 per short ton lower at $380.40, and March soyoil down $0.37 at $57.32.
The outside markets are not supportive for Thursday's grain trade. The real factors driving the early calls will be the lower overnight trading.