The Early Calls for the commodities on Friday, August 24, 2012, are mostly higher. Corn is seen opening 1-2 cents higher, soybeans 10-12 cents higher, and wheat 4-6 cents higher.
In overnight trading, the Dec. corn futures contract traded 3 1/2 cents higher at $8.18 1/4 per bushel. Nov. soybean futures traded 13 1/4 cents higher at $17.28 per bushel, and Dec, wheat traded 7 cents higher at $9.01. For Dec. soybean meal futures, the contract traded $4.50 per short ton higher at $519.80. Dec, soybean oil futures traded $0.14 higher at $56.91.
The outside markets are unfavorable for Friday's grain trade. The real factors driving the calls will be the mostly higher overnight market.
