The Early Calls for the commodities on Tuesday, May 15, 2012, are higher. Corn is seen opening 4-6 cents higher, wheat 6-8 cents higher and soybeans 19-20 cents higher.
In overnight trading, the July corn futures contract traded 5 1/4 cents higher at $5.88 1/4 per bushel. July soybean futures traded 19 cents higher at $14.26 per bushel, and July wheat traded 6 cents higher at $6.04 1/4. For July soybean meal futures, the contract traded $8.10 per short ton higher at $411.60. July soybean oil futures traded $0.38 higher at $51.68.
The outside markets are favorable for Tuesday's grain trade. The real factors driving the calls will be the higher overnight markets.
