Bloomberg News

Grain, Soybeans May Fall as Rallies Spur Increased Farmer Sales

August 29, 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.

-- Wheat futures may open steady to 2 cents a bushel lower on the CBOT, after the largest rally in three weeks increases sales of wheat in parts of the Midwest, Dave Marshall, a farm marketing adviser for Toay Commodity Futures Group LLC in Nashville, Illinois, said in a telephone interview.

-- Corn futures are called to open steady to 2 cents a bushel lower after prices jumped 2.3 percent today, spurring more sales of newly harvested grain, Marshall said.

-- Soybean futures may open steady to 2 cents a bushel lower in Chicago on increased farmer sales of remaining supplies of last year’s crop and speculation that rain from Tropical Storm Isaac may boost yields of immature Midwest crops, Marshall said.

To contact the reporter on this story: Jeff Wilson in Chicago at jwilson29@bloomberg.net

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


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