Corn, Soybean, Wheat Futures May Rise in Chicago on Adverse Global Weather

What follows are opening calls for U.S. grain and oilseed markets.

-- Corn futures are called to open 4 cents to 6 cents a bushel higher on the Chicago Board of Trade as drought reduces Russian production, said Chad Henderson, a market analyst at Prime Agricultural Consultants Inc. in Brookfield, Wisconsin.

-- Soybean futures may open 5 cents to 8 cents a bushel higher on speculation that the drought in parts of Europe and Ukraine is reducing oilseed production, Henderson said. Soybean-meal futures may open $2 to $3 higher per 2,000 pounds, and soybean oil is expected to open 0.1 cent to 0.2 cent a pound higher.

-- Wheat futures may open 9 cents to 12 cents a bushel higher on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange as the drought in Europe and excessive rain in Canada reduced planting, Henderson said.

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

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