In overnight trading, the July corn futures contract traded 3/4 of a cent higher at $6.02 1/4 per bushel. July soybean futures traded 10 cents higher at $13.96 per bushel, and July wheat traded 1/4 of a cent lower at $6.23 1/4. For July soybean meal futures, the contract traded $3.50 per short ton higher at $420.00. July soybean oil futures traded $0.45 higher at $48.45.
The outside markets are mildly favorable for Friday's grain trade. The real factors driving the calls will be the mostly higher overnight markets.
The Early Calls for the commodities on Friday, June 15, 2012, are mostly higher. Corn is seen opening 1-2 cents higher, soybeans 8-10 cents higher, and wheat 1-2 cents lower.
