Early calls for corn, wheat, and soybeans
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, 2, 2010 are higher. Wheat is seen opening 2-4 cents higher, soybeans up 2-4 cents, and corn up 5-7 cents.
In overnight electronic trading, the Dec. corn futures contract traded 4 1/2 cents higher at $5.81 3/4 per bushel. The Jan. soybean futures contract traded 4 cents higher at $12.39 per bushel. The Dec. wheat futures contract traded 7 cents higher at $7.09 1/2. For Dec. soymeal futures, the contract traded $0.60 per short ton higher at $338.40, and Dec. soyoil up 0.02 at $49.77.
The outside markets are supportive for Tuesday's grain trade. The real factors driving the higher early calls are the higher overnight markets.