Bloomberg News

Corn Called Lower on U.S. Inventory Data; Wheat, Soy May Rise

April 10, 2012

Corn futures may open 4 cents to 7 cents a bushel lower on the Chicago Board of Trade after the government said U.S. inventories as of Aug. 31 will be more than forecast by analysts, said Mark Schultz, the chief analyst at Northstar Commodity Investment Co. in Minneapolis.

Soybean futures may open 8 cents to 10 cents a bushel higher in Chicago after the U.S. Department of Agriculture said that reserves before the Northern Hemisphere harvest will be less than forecast last month, Schultz said today in a telephone interview.

Wheat futures may open 4 cents to 7 cents a bushel higher as U.S. and global inventories as of May 31 will drop more than analysts forecast, Schultz said.

To contact the reporter on this story: Jeff Wilson in Chicago at jwilson29@bloomberg.net

To contact the editor responsible for this story: Patrick McKiernan at pmckiernan@bloomberg.net


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