Bloomberg News

Corn, Soybeans Called Lower on U.S. Crop Yields; Wheat May Fall

August 23, 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 1 cent to 2 cents a bushel lower in Chicago as field samples from the Professional Farmer Crop Tour showed yields in some Midwest states may be better than forecast by the U.S. Department of Agriculture, Doug Etheridge, senior vice president, futures and options, at RBC Wealth Management in Charlotte, North Carolina, said by telephone.

-- Soybean futures may open steady to 1 cent a bushel lower on the CBOT on better-than-expected crop prospects, Etheridge said. Soybean-oil futures are expected to open 0.1 cent to 0.2 cent a pound lower, and soybean-meal futures may open $1 to $2 lower per 2,000 pounds.

-- Wheat futures are called to open 1 cent to 2 cents a bushel lower in Chicago, Etheridge 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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