Bloomberg News

Corn Seen Lower as Crop Conditions Unchanged; Soybeans May Drop

August 20, 2012

What follows are opening calls for U.S. grain and oilseed markets, which resume trading at 5 p.m. on the Chicago Board of Trade.

-- Corn futures were called to open 1 cent to 3 cents a bushel lower on the CBOT after the U.S. Department of Agriculture said 23 percent of the crop was in good or excellent condition for a third straight week, said Sterling Smith, a futures specialist for Citigroup Global Markets in Chicago.

-- Soybean futures may open steady to 2 cents a bushel lower as crop conditions improved to 31 percent good or excellent as of yesterday from 30 percent a week earlier, Smith said.

-- Wheat futures may open steady to 2 cents a bushel lower, Smith said.

To contact the reporter on this story: Tony C. Dreibus at tdreibus@bloomberg.net.

To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net


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