Bloomberg News

Grain, Soybeans May Open Steady to Higher on Improved Demand

June 05, 2012

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

-- Corn futures are called to open steady to 2 cents a bushel higher on the Chicago Board of Trade on increased demand for supplies at export terminals near New Orleans after the lowest cash prices since December halted farmer sales, Jerrod Kitt, the director of research at the Linn Group in Chicago, said in a telephone interview.

-- Soybean futures may open steady to 2 cents a bushel higher on the CBOT on speculation that central bank governors from the Group of Seven industrialized nations will work together to ease the European debt crisis, boosting demand for commodities, Kitt said. Soybean-meal futures may open steady to down 50 cents per 2,000 pounds, and soybean-oil futures are expected to open steady to 0.1 cent a pound higher.

-- Wheat futures may open steady to 2 cents a bushel higher on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange on speculation that the lowest prices in three weeks may increase demand from investors holding short positions, Kitt 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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