Corn, Soy, Wheat Called Higher as Report May Show Yield Declines
What follows are opening calls for U.S. grain and oilseed markets, which open at 5 p.m. on the Chicago Board of Trade.
-- Corn futures may open 3 cents to 5 cents a bushel higher on the Chicago Board of Trade on speculation that a U.S. Department of Agriculture report tomorrow will show hot, dry weather reduced yields, said Mike Zuzolo, president of Global Commodity Analytics in Lafayette, Indiana.
-- Soybean futures may open up 3 cents to 5 cents a bushel in Chicago ahead of the USDA report, Zuzolo said. Soybean-oil futures are expected to open 0.2 cent to 0.3 cent a pound higher, and soybean-meal futures may open $1 to $3 higher per 2,000 pounds.
-- Wheat futures may open 3 cents to 5 cents a bushel higher on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange, Zuzolo said.
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