Bloomberg News

Corn, Soybeans Called Higher as Dollar Weakens; Wheat Seen Up

August 22, 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 may open 2 cents to 4 cents a bushel higher in Chicago after the dollar fell for a third day, boosting the appeal of U.S. grain to overseas buyers, Sterling Smith, a futures specialist at Citigroup Global Markets, said in a report today.

-- Soybean futures may open 2 cents to 3 cents a bushel higher on the CBOT, Smith said. Soybean-oil futures are expected to open 0.1 cent to 0.2 cent a pound higher, and soybean-meal futures may open $1.50 to $3.50 higher per 2,000 pounds.

-- Wheat futures are called to open 2 cents to 4 cents a bushel higher in Chicago, 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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