In overnight trading, the July corn futures contract traded 4 1/2 cents lower at $5.89 3/4 per bushel. July soybean futures traded 12 1/4 cents lower at $14.15 3/4 per bushel, and July wheat traded 9 3/4 cents lower at $6.32 1/2. For July soybean meal futures, the contract traded $1.20 per short ton lower at $424.30. July soybean oil futures traded $0.87 lower at $49.52.
The outside markets are unfavorable for Friday's grain trade. The real factors driving the calls will be the lower overnight markets.
The Early Calls for the commodities on Friday, June 8, 2012, are lower. Corn is seen opening 4-6 cents lower, soybeans 10-12 cents lower, and wheat 7-9 cents lower.
