The Early Calls for the commodities on Tuesday, September 4, 2012, are higher. Corn is seen opening 9-11 cents higher, soybeans 18-20 cents higher, and wheat 7-9 cents higher.
In overnight trading, the Dec. corn futures contract traded 9 1/4 cents higher at $8.09 per bushel. September soybean futures hit an all-time high of $17.94. November soybean futures traded 21 cents higher at $17.77 1/2 per bushel, and Dec. wheat traded 7 1/2 cents higher at $8.97. For Dec. soybean meal futures, the contract traded $5.60 per short ton higher at $539.00. Dec. soybean oil futures traded $0.75 higher at $57.83.
The outside markets are favorable for Tuesday's grain trade. The real factors driving the calls will be the higher overnight markets.
