Early calls for the corn, soybean, and wheat markets
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, August 4, 2010 are sharply higher. The early calls for corn are 5-7 cents higher, soybeans up 5-7 cents and wheat 18-20 cents higher.
In overnight electronic trading, the Dec. corn futures contract traded 4 1/2 cents higher at $4.08 1/2 per bushel. The Nov. soybean futures contract traded 5 3/4 cents higher at $10.23 3/4 per bushel. The Sep. wheat futures contract traded 22 1/4 cents higher at $7.02 1/4. For Dec. soymeal futures, the contract traded $2.50 per short ton higher at $292.50, and Dec. soyoil up 17 points at $41.85.
The outside markets are not supportive for Wednesday's grain trade. The real factor driving the higher early calls is the sharply higher overnight market.