Bloomberg News

Wheat Called Higher on Cold Weather; Soy, Corn May Gain

October 26, 2011

(Updates with news and links after fourth paragraph.)

Oct. 26 (Bloomberg) -- What follows are opening calls for U.S. grain and oilseed markets.

-- Wheat futures may open 2 cents to 3 cents a bushel higher on the Chicago Board of Trade, the Kansas City Board of Trade and the Minneapolis Grain Exchange on speculation that cold, dry weather will damage winter crops in the U.S. and Ukraine, Jim Gerlach, the president of A/C Trading Inc. in Fowler, Indiana, said in a telephone interview.

-- Soybean futures may open 2 cents to 3 cents a bushel higher in Chicago on speculation that China will increase imports to boost supplies of hog feed and cooking oil, Gerlach said. Soybean-oil futures are expected to open little changed, and soybean-meal futures may open steady to 50 cents higher per 2,000 pounds.

-- Corn futures are called to open steady to 2 cents a bushel higher on the CBOT on speculation that adverse weather hurt U.S. production more than the government forecast earlier this month, Gerlach said.

--Editors: Daniel Enoch, Steve Stroth.

To contact the reporters on this story: Jeff Wilson in Chicago at jwilson29@bloomberg.net; Whitney McFerron in Chicago at wmcferron1@bloomberg.net.

To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net.


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