Bloomberg News

Soybeans May Fall on Improving U.S. Crop; Grains Called Higher

September 17, 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.

-- Soybean futures may open 3 cents to 5 cents a bushel lower after rain improved U.S. crop conditions, and projected moisture in South America may aid early crop development, Jerrod Kitt, the director of research at Chicago-based Linn Group, said in a telephone interview.

-- Wheat futures may open steady to 2 cents a bushel higher on speculation that dry weather in the next two weeks will hinder planting in the U.S. Great Plains, where drought conditions cover about 40 percent of the region, Kitt said.

-- Corn futures are called to open steady to 2 cents a bushel higher as the lowest prices in seven weeks and forecasts for falling world wheat production spur increased demand from livestock producers, Kitt 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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