Bloomberg News

Soybeans May Open Higher on Smaller World Crop; Grains May Rise

April 24, 2012

What follows are opening calls for U.S. grain and oilseed markets.

-- Soybean futures may open 10 cents to 12 cents a bushel higher on the Chicago Board of Trade on speculation that warm, dry weather reduced production in South America, boosting demand prospects for U.S. supplies, said Greg Grow, the director of agribusiness for Archer Financial Services Inc. in Chicago. Soybean-oil futures are expected to open 0.25 cent to 0.35 cent a pound higher, and soybean-meal futures may open up $3 to $5 per 2,000 pounds.

-- Corn futures are called to open 2 cents to 3 cents a bushel higher on the Chicago Board of Trade on speculation that China will boost imports of U.S. grain to increase feed supplies for expanding hog herds, Grow said in a telephone interview.

-- Wheat futures may open 4 cents to 6 cents a bushel higher on the CBOT, the Kansas City Board of Trade and Minneapolis Grain Exchange on speculation that cold weather will damage U.S. crops, Grow said.

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

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


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