In overnight trading, the July corn futures contract traded 1 1/4 cents higher at $5.99 1/2 per bushel. July soybean futures traded 6 3/4 cents higher at $14.33 per bushel, and July wheat traded 6 cents higher at $6.36 1/4. For July soybean meal futures, the contract traded $0.80 per short ton lower at $429.00. July soybean oil futures traded $0.64 higher at $50.10.
The outside markets are favorable for Monday's grain trade. The real factors driving the calls will be the higher overnight markets.
The Early Calls for the commodities on Monday, June 11, 2012, are slightly higher. Corn is seen opening mixed, soybeans 4-6 cents higher, and wheat 4-6 cents higher.
