Bloomberg News

Soybeans May Open Higher on Dry Weather; Corn, Wheat Seen Lower

July 15, 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 8 cents a bushel lower on the CBOT after light rains across parts of Iowa and as a rally to the highest price in 10 months on July 13 may prompt some investors to sell the grain, Lynette Tan, an analyst at Phillip Futures Pte, said in an e-mail.

-- Soybean futures may open 9 cents to 10 cents a bushel higher on demand from China and concerns drought in the U.S. may harm crops, Tan Said.

-- Wheat futures may open 21 cents lower on speculation crops may suffer less from the drought in the U.S., she 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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