Early calls for corn, wheat, and soybeans
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, October 1, 2010 are lower. Corn is seen opening 3-5 cents lower, soybeans 2-4 cents lower, and wheat 1-2 cents lower.
In overnight electronic trading, the Dec. corn futures contract traded 7 3/4 cents lower at $4.88 per bushel. The Nov. soybean futures contract traded 4 1/ cents higher at $11.02 1/2 per bushel. The Dec. wheat futures contract traded 3 1/2 cents lower at $6.70 1/2. For Dec. soymeal futures, the contract traded $1.90 per short ton lower at $305.00, and Dec. soyoil up 0.03 point at $45.12.
The outside markets are supportive for Friday's grain trade. The real factors driving the lower early calls are the lower overnight markets.