The Early Calls for the commodities on Tuesday, July 3, 2012, are higher. Corn is seen opening 10-11 cents higher, soybeans 12-14 cents higher, and wheat 6-8 cents higher.
In overnight trading, the July corn futures contract traded 9 1/4 cents higher at $7.01 3/4 per bushel. July soybean futures traded 16 cents higher at $15.48 per bushel, and July wheat traded 4 3/4 cents higher at $7.59 1/2. For July soybean meal futures, the contract traded $3.60 per short ton higher at $446.10. July soybean oil futures traded $0.35 higher at $52.53.
The outside markets are slightly favorable for Tuesday's grain trade. The real factors driving the calls will be the sharply higher overnight markets.
