In overnight trading, the Dec. corn futures contract traded 2 3/4 cents higher at $8.11 1/4 per bushel. Nov. soybean futures traded 16 1/4 cents higher at $17.47 3/4 per bushel, and Dec, wheat traded 2 cents lower at $8.86 1/2. For Dec. soybean meal futures, the contract traded $4.20 per short ton higher at $527.00. Dec, soybean oil futures traded $0.60 higher at $57.50.
The outside markets are favorable for Monday's grain trade. The real factors driving the calls will be the mostly higher overnight markets.
The Early Calls for the commodities on Monday, August 27, 2012, are mostly higher. Corn is seen opening 2-4 cents higher, soybeans 12-14 cents higher, and wheat 1-2 cents lower.
