Early calls for corn, wheat, and soybeans
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, September 20, 2010 are sharply higher. The early calls for corn are 8-10 cents higher, soybeans up 18-20 cents, and wheat 8-10 cents higher.
In overnight electronic trading, the Dec. corn futures contract traded 9 cents higher at $5.22 1/4 per bushel. The Nov. soybean futures contract traded 23 3/4 cents higher at $10.92 3/4 per bushel. The Dec. wheat futures contract traded 9 1/2 cents higher at $7.48 3/4. For Dec. soymeal futures, the contract traded $5.50 per short ton higher at $314.00, and Dec. soyoil up 0.82 point at $43.12.
The outside markets are supportive for Monday's grain trade. The real factors driving the early calls will be the higher overnight grain trading.
Frost-scare in China's largest soybean-producing region, Brazil's dry weather, and spec buying ahead of two upcoming Chinese holidays made prices soar on the Dalian Exchange, overnight. These same factors drove the CME Group's Globex Exchange higher, overnight.