Bloomberg News

Wheat Futures May Open Lower After Russia Export Concerns Ease

September 02, 2012

What follows are opening calls for U.S. grain and oilseed markets, which open on the Chicago Board of Trade at 6 a.m. Singapore time.

-- Wheat futures may open 3 cents a bushel lower on the CBOT after Russia said it had no plans to curb exports as drought cuts production, according to Paul Deane, an agricultural economist at Australia & New Zealand Banking Group Ltd. (ANZ)

-- Soybean futures may open 1 cent to 3 cents a bushel higher in Chicago on expectations funds will remain a positive factor on prices this week after Federal Reserve Chairman Ben S. Bernanke said he wouldn’t rule out more stimulus to support the U.S. economy, Deane said.

-- Corn is called to open 1 cent to 3 cents a bushel higher, Deane said. New-crop corn may find support around current levels after prices declined 1.1 percent on Aug. 31, he said.

To contact the reporter for this story: Phoebe Sedgman in Melbourne at psedgman2@bloomberg.net

To contact the editor responsible for this story: Jake Lloyd-Smith at jlloydsmith@bloomberg.net


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