Bloomberg News

Corn, Soybeans May Open Higher as Dry Weather Threatens Crops

June 24, 2012

What follows are opening calls for U.S. grain and oilseed markets, which open on the Chicago Board of Trade at 6 a.m. Singapore time.

-- Corn futures may open 3 cents to 4 cents a bushel higher on the CBOT on speculation that hot, dry weather may curb yields in some growing regions in the U.S., according to Chung Yang Ker, an analyst at Phillip Futures Pte.

-- Soybean futures may open 2 cents to 3 cents a bushel higher in Chicago amid concerns hot and dry conditions may harm crops in some growing regions, he said in an e-mail.

-- Wheat futures may open 1 cent to 2 cents a bushel lower amid rainfall in Australia’s southern growing regions and good conditions in the nation’s east, he said.

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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