Early calls for the corn, soybean, and wheat markets
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, November 5, 2010 are mostly lower. Wheat is seen opening 5-7 cents lower, corn 3-5 cents lower and soybeans 1-2 cents lower.
In overnight electronic trading, the Dec. corn futures contract traded 6 cents lower at $5.84 per bushel. The Jan. soybean futures contract traded 3/4 of a cents higher at $12.75 3/4 per bushel. The Dec. wheat futures contract traded 7 1/2 cents lower at $7.06 1/4. For Dec. soymeal futures, the contract traded $2.20 per short ton lower at $346.00, and Dec. soyoil up 0.55 at $51.80.
The outside markets are not supportive for Friday's grain trade. The real factors driving the higher early calls are the higher overnight markets.