Early calls for corn, wheat, and soybeans
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Tuesday, August 31, 2010 are mostly lower. The early calls for corn are 2-4 cents lower, soybeans 7-9 lower and wheat up 1-2 cents.
In overnight electronic trading, the Dec. corn futures contract traded 2 1/2 cents lower at $4.39 per bushel. The Nov. soybean futures contract traded 8 1/2 cents lower at $10.14 per bushel. The Dec. wheat futures contract traded 1 1/2 cents higher at $7.06. For Dec. soymeal futures, the contract traded $1.40 per short ton lower at $297.30, and Dec. soyoil down 0.38 point at $40.15.
The outside markets are not supportive for Tuesday's grain trade. The real factors driving the lower early calls are the lower overnight markets.