Bloomberg News

Corn, Soy, Wheat Called Higher as Report May Show Yield Declines

July 10, 2012

What follows are opening calls for U.S. grain and oilseed markets, which open at 5 p.m. on the Chicago Board of Trade.

-- Corn futures may open 3 cents to 5 cents a bushel higher on the Chicago Board of Trade on speculation that a U.S. Department of Agriculture report tomorrow will show hot, dry weather reduced yields, said Mike Zuzolo, president of Global Commodity Analytics in Lafayette, Indiana.

-- Soybean futures may open up 3 cents to 5 cents a bushel in Chicago ahead of the USDA report, Zuzolo said. Soybean-oil futures are expected to open 0.2 cent to 0.3 cent a pound higher, and soybean-meal futures may open $1 to $3 higher per 2,000 pounds.

-- Wheat futures may open 3 cents to 5 cents a bushel higher on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange, Zuzolo said.

To contact the reporter on this story: Tony C. Dreibus in Chicago at tdreibus@bloomberg.net.

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


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