Sept. 28 (Bloomberg) -- What follows are opening calls for U.S. grain and oilseed markets.
-- Corn futures are called to open 5 cents to 7 cents a bushel lower on the Chicago Board of Trade on speculation that demand for food, animal feed and fuel made from the crop will drop as the U.S. economy slows and Europe’s debt crisis reduces consumer confidence, Jim Gerlach, the president of A/C Trading Inc. in Fowler, Indiana, said in a telephone interview.
-- Wheat futures may open 5 cents to 9 cents a bushel lower on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange on concern that European leaders are divided on plans to tame the region’s sovereign-debt crisis, potentially prolonging the fiscal woes and slowing commodity demand, Gerlach said.
-- Soybean futures may open 8 cents to 10 cents a bushel lower in Chicago on concern that global demand is waning for cooking oils and animal feed made from the crop, Gerlach said. Soybean- oil futures are expected to open down 0.05 cent to 0.1 cent a pound, and soybean-meal futures may open $1 to $2 lower for 2,000 pounds.
--Editors: Millie Munshi, Daniel Enoch
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