Corn, Soybeans, Wheat May Open Lower on CBOT as Demand Eases
What follows are opening calls for U.S. grain and oilseed markets on the Chicago Board of Trade.
-- Corn futures are called to open 1 cent to 3 cents a bushel lower as U.S. export demand eases following a 14 percent rally this month, Jacquie Voeks, senior market adviser at the Stewart- Peterson Group in West Bend, Wisconsin. Domestic use of the grain to make ethanol also may ebb, she said.
-- Soybean futures may open 3 cents to 6 cents a bushel lower on speculation that demand for biofuels made from the oilseed will drop after crude-oil prices slumped to the lowest in eight months, Voeks said.
-- Wheat futures may open 3 cents to 5 cents a bushel lower as rain boosts yield prospects in the northern U.S. Great Plains and Canada, Voeks said.
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