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 1 cent to 2 cents per bushel higher as little or no rain is forecast in the Midwest, extending the worst drought in the U.S. since 1956 and curbing production, Scott Stoller, a grain merchandiser at Michlig Grain in Manlius, Illinois, said in a telephone interview.
-- Soybean futures may open steady to 2 cents a bushel higher as the lack of rain and hot weather curbs yields as plants enter critical growth stages, Stoller said. Soybean-oil futures may open steady to 0.2 cent a pound higher, and soybean-meal futures may open $1 to $2 higher per 2,000 pounds.
-- Wheat futures may open steady to up 2 cents a bushel, Stoller 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