Bloomberg News

Grains, Soybeans Called to Open Higher on Reduced World Crops

By Jeff Wilson
July 12, 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 are called to open 1 cent to 3 cents a bushel higher on speculation that hot, dry weather in the next week will increase U.S. yield losses, Jerry Gidel, the chief feed- grain analyst at Rice Dairy LLC in Chicago, said in a telephone interview.

-- Soybean futures may open 2 cents to 4 cents a bushel higher on forecasts that dry U.S. weather will increase stress on plants as they begin to reproduce, Gidel said.

-- Wheat futures may open steady to 2 cents a bushel higher as reduced crops in Russia, Ukraine and Kazakhstan may increase export demand for U.S. grain, Gidel 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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