The Early Calls for the commodities on Thursday, September 20, 2012, are lower. Corn is seen opening 2-4 cents lower, soybeans 10-11 cents lower, and wheat 3-5 cents lower.
In overnight trading, the Dec. corn futures contract traded 5 cents lower at $7.51 per bushel. Nov. soybean futures traded 11 cents lower at $16.58 per bushel, and Dec. wheat traded 3 cents lower at $8.78. For Dec. soybean meal futures, the contract traded $1.70 per short ton lower at $498.60. Dec. soybean oil futures traded $0.56 lower at $55.69.
The outside markets are unfavorable for Thursday's grain trade. The real factors driving the calls will be the lower overnight markets.
