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Corn, Soybeans May Open Higher on Weather Concerns; Wheat Steady

July 01, 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.

-- Corn futures may open 15 cents a bushel higher on the CBOT as dry weather threatens to harm crops during the key pollination stage, potentially pushing supplies lower, according to Lynette Tan, an analyst at Phillip Futures Pte.

-- Soybean futures may open 20 cents a bushel higher after lagging behind a rally in grain prices in the past week, while an outlook for dry weather will add support to prices, she said in an e-mail.

-- Wheat futures may open steady after the U.S. Department of Agriculture raised its estimate for plantings, she said.

To contact the reporter for this story: Phoebe Sedgman in Melbourne at

To contact the editor responsible for this story: James Poole at

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