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 steady to 2 cents a bushel lower as demand ebbs following a 52 percent rally since mid-June, Dewey Strickler, the president of Ag Watch Market Advisors in Franklin, Kentucky, said in a telephone interview.
-- Soybean futures may open steady to 2 cents a bushel lower as consumption declines following a 21 percent rally since mid- June, Strickler said. Soybean-oil futures are expected to open 0.1 cent to 0.2 cent a pound higher, and soybean-meal futures may open steady to $1 higher per 2,000 pounds.
-- Wheat futures may open 1 cent to 2 cents a bushel higher after Russia cut its forecast for grain production because of drought, Strickler said.
To contact the reporter on this story: Tony C. Dreibus in Chicago at email@example.com.
To contact the editor responsible for this story: Steve Stroth at firstname.lastname@example.org