Early calls for corn, wheat, and soybeans
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Wednesday, October 27, 2010 are lower. Corn is seen opening 4-6 cents lower, soybeans 8-10 cents lower and wheat down 1-2 cents.
In overnight electronic trading, the Dec. corn futures contract traded 4 1/2 cents lower at $5.66 1/2 per bushel. The Nov. soybean futures contract traded 12 1/2 cents lower at $12.06 1/2 per bushel. The Dec. wheat futures contract traded 1/4 of a cent lower at $6.91 3/4. For Dec. soymeal futures, the contract traded $3.50 per short ton lower at $332.00, and Dec. soyoil down 0.67 at $48.86.
The outside markets are not supportive for Wednesday's grain trade. The real factors driving the lower early calls are the lower overnight markets and a higher trading U.S. Dollar.