Bloomberg News

Wheat Called Lower as Rains Boost Plantings; Soybeans May Gain

May 28, 2012

What follows are opening calls for U.S. grain and oilseed markets, which open at 7 p.m. on the Chicago Board of Trade. Markets were closed yesterday for Memorial Day.

-- Corn futures are called to open steady on the CBOT after weekend weather met expectations, Joseph Vaclavik, a senior vice president at Straits Financial LLC in Chicago, said in a telephone interview.

-- Soybean futures may open 3 cents to 4 cents a bushel higher in Chicago, Vaclavik said.

-- Wheat futures may open 3 cents to 4 cents a bushel lower on the CBOT, after rainfall in some growing regions over the weekend, Vaclavik said. The grain may open 2 cents to 3 cents lower on the Kansas City Board of Trade and 2 cents lower on the Minneapolis Grain Exchange.

To contact the reporter for this story: Phoebe Sedgman in Melbourne at psedgman2@bloomberg.net

To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net


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