Bloomberg News

Grains, Soybeans Called to Open Higher on Reduced World Crops

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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