The Early Calls for the commodities on Thursday, August 23, 2012, are higher. Corn is seen opening 1-2 cents higher, soybeans 3-5 cents higher, and wheat 4-6 cents higher.
In overnight trading, the Dec. corn futures contract traded 1/4 of a cent higher at $8.35 per bushel. Nov. soybean futures traded 3 1/4 cents higher at $17.31 per bushel, and Dec, wheat traded 4 1/2 cents higher at $9.21 1/2. For Dec. soybean meal futures, the contract traded $1.60 per short ton higher at $521.30. Dec, soybean oil futures traded $0.03 lower at $56.88.
The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the higher overnight markets.
