Early calls for grain trade
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, January 7, 2011 are lower. Corn is seen opening 2-4 cents lower, soybeans and wheat 5-7 cents lower.
In overnight electronic trading, the March corn futures contract traded 2 1/4 cents lower at $5.99 3/4 per bushel. The March soybean futures contract traded 8 1/2 cents lower at $13.69 1/2 per bushel. The March wheat futures contract traded 7 1/4 cents lower at $7.81 3/4. For March soymeal futures, the contract traded $1.80 per short ton lower at $367.30, and March soyoil down $0.55 at $56.86.
The outside markets are mildly supportive for Friday's grain trade. The real factors driving the lower early calls are the lower overnight markets.