Corn, Soybeans May Rise on U.S. Supply Cuts, Schultz Says; Wheat May Gain
Corn futures may open 15 cents to 20 cents a bushel higher after the government said U.S. farmers will harvest a smaller crop than forecast last month and world inventories will fall, said Mark Schultz, the chief analyst at Northstar Commodity Investment Co. in Minneapolis.
Soybean futures may open 40 cents to 50 cents a bushel higher after the U.S. Department of Agriculture reduced its forecast of domestic inventories more than expected, Schultz said. Wheat futures may open 15 cents to 20 cents a bushel higher on shrinking global inventories, he said.
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