In overnight trading, the July corn futures contract traded 2 cents lower at $5.76 1/2 per bushel. July soybean futures traded 8 3/4 cents higher at $13.90 3/4 per bushel, and July wheat traded 12 1/2 cents lower at $6.67 1/2. For July soybean meal futures, the contract traded $3.40 per short ton higher at $412.70. July soybean oil futures traded $0.29 higher at $50.41.
The outside markets are slightly favorable for Monday's grain trade. The real factors driving the calls will be the sharply mixed overnight markets.
The Early Calls for the commodities on Monday, May 29, 2012, are mixed. Corn is seen opening 2-4 cents lower, wheat 10-12 cents lower and soybeans 4-6 cents lower.
