Bloomberg News

Corn, Soybeans, Wheat May Open Lower on CBOT as Demand Eases

June 28, 2012

What follows are opening calls for U.S. grain and oilseed markets on the Chicago Board of Trade.

-- Corn futures are called to open 1 cent to 3 cents a bushel lower as U.S. export demand eases following a 14 percent rally this month, Jacquie Voeks, senior market adviser at the Stewart- Peterson Group in West Bend, Wisconsin. Domestic use of the grain to make ethanol also may ebb, she said.

-- Soybean futures may open 3 cents to 6 cents a bushel lower on speculation that demand for biofuels made from the oilseed will drop after crude-oil prices slumped to the lowest in eight months, Voeks said.

-- Wheat futures may open 3 cents to 5 cents a bushel lower as rain boosts yield prospects in the northern U.S. Great Plains and Canada, Voeks 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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