The Early Calls for the commodities on Monday, September 24, 2012, are lower. Corn is seen opening 2-4 cents lower, soybeans 10-12 cents lower, and wheat 3-5 cents lower.
In overnight trading, the Dec. corn futures contract traded 1 cent lower at $7.47 per bushel. Nov. soybean futures traded 14 cents lower at $16.07 per bushel, and Dec. wheat traded 2 1/2 cents lower at $8.94. For Dec. soybean meal futures, the contract traded $1.40 per short ton lower at $484.60. Dec. soybean oil futures traded $0.94 lower at $53.89.
The outside markets are mostly unfavorable for Monday's grain trade. The real factors driving the calls will be the lower overnight markets.
