Early calls for corn, wheat, and soybeans
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Monday, November 1, 2010 are higher. Wheat is is seen opening 1-2 cents higher, soybeans up 2-4 cents, and corn up 2-4 cents.
In overnight electronic trading, the Dec. corn futures contract traded 4 cents higher at $5.86 per bushel. The Jan. soybean futures contract traded 3 1/4 cents higher at $12.39 1/4 per bushel. The Dec. wheat futures contract traded 4 1/2 cents higher at $7.21 3/4. For Dec. soymeal futures, the contract traded $0.20 per short ton lower at $337.50, and Dec. soyoil up 0.51 at $49.81.
The outside markets are not supportive for Monday's grain trade. The real factors driving the higher early calls are the higher overnight markets.