Bloomberg News

Soy, Grains May Open Higher on Rising Demand for U.S. Crops

February 13, 2012

(Updates with news and links after fourth paragraph.)

Feb. 13 (Bloomberg) -- What follows are opening calls for U.S. grain and oilseed markets.

-- Soybean futures may open 8 cents to 12 cents a bushel higher on the Chicago Board of Trade on speculation that dry, warm weather threatening production in Brazil will boost demand for supplies from the U.S., Greg Grow, the director of agribusiness at Archer Financial Services Inc. in Chicago, said in a telephone interview. Soybean-oil futures are expected to open 0.3 cent to 0.4 cent a pound higher, and soybean-meal futures may open $2.50 to $3.50 higher per 2,000 pounds.

-- Wheat futures may open 8 cents to 10 cents a bushel higher on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange on signs that demand will rebound after prices last week slumped 4.7 percent, the most since December, Grow said.

-- Corn futures are called to open 3 cents to 5 cents a bushel higher in Chicago on speculation that adverse weather in South America and Ukraine will increase demand for supplies from the U.S., Grow said.

--Editors: Thomas Galatola, Millie Munshi

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: Patrick McKiernan at pmckiernan@bloomberg.net


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