In overnight trading, the Dec. corn futures contract traded 4 1/4 cents higher at $8.08 per bushel. Nov. soybean futures traded 3 1/2 cents lower at $16.31 per bushel, and Dec. wheat traded 16 3/4 cents higher at $8.83. For Dec. soybean oil futures traded $0.05 lower at $53.66. The Dec. soymeal futures traded $0.80 per short ton lower at $493.00.
The outside markets are unfavorable for Thursday's grain trade. The real factors driving the calls will be the higher overnight markets.
The Early Calls for the commodities on Thursday, August 16, 2012, are mostly higher. Corn is seen opening 5-7 cents better, soybeans 2-4 cents lower, and wheat 12-14 cents higher.
