Grains seen starting higher
CHICAGO, Illinois (Agriculture.com)--The pre-opening prices for the CME Group grain commodities for Friday, August 13, 2010 are higher. The early calls for corn are -3-5 cents higher, soybeans up 7-9 cents and wheat up 10-12 cents.
In overnight electronic trading, the Dec. corn futures contract traded 3 1/4 cents higher at $4.25 per bushel. The Nov. soybean futures contract traded 7 3/4 cents higher at $10.36 1/4 per bushel. The Sep. wheat futures contract traded 10 1/2 cents higher at $7.23 1/2. For Dec. soymeal futures, the contract traded $1.10 per short ton lower at $295.10, and Dec. soyoil up 0.72 point at $42.55.
The outside markets are not supportive for Friday's grain trade. The real factor driving the higher early calls are the strong overnight markets.