Bloomberg News

Soy, Grains May Open Higher as Dry Weather Threatens Crops

December 15, 2011

(Updates with news and links after fourth paragraph.)

Dec. 15 (Bloomberg) -- What follows are opening calls for U.S. grain and oilseed markets.

-- Soybean futures may open 6 cents to 8 cents a bushel higher on the Chicago Board of Trade as dry weather threatens crops in Argentina and Brazil, Jason Britt, the president of Central States Commodities Inc. in Kansas City, Missouri, said in a telephone interview. Soybean-oil futures are expected to open 0.2 cent to 0.3 cent a pound higher, and soybean-meal futures may open 80 cents to $1 higher per 2,000 pounds.

-- Corn futures are called to open steady to 2 cents a bushel higher in Chicago as adverse weather may hamper output in South America, Britt said.

-- Wheat futures may open 4 cents to 6 cents a bushel higher on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange as persistent dry weather may hurt winter crops in Ukraine, Britt said.

--Editors: Millie Munshi, Claudia Carpenter

To contact the reporter on this story: Whitney McFerron in Chicago at

To contact the editor responsible for this story: Patrick McKiernan at

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