In overnight trading, the July corn futures contract traded 7 cents higher at $5.74 per bushel. July soybean futures traded 16 1/2 cents higher at $13.66 per bushel, and July wheat traded 5 cents higher at $6.18 1/4. For July soybean meal futures, the contract traded $4.00 per short ton higher at $404.00. March soybean oil futures traded $0.71 higher at $49.21.
The outside markets are favorable for Wednesday's grain trade. The real factors driving the calls will be the higher overnight markets.
The Early Calls for the commodities on Wednesday, June 6, 2012, are higher. Corn is seen opening 7-8 cents higher, soybeans 12-14 cents higher, and wheat 5-7 cents higher.
