Corn, Soybeans, Wheat Called Lower as Rain Forecast in Midwest
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 1 cent to 2 cents a bushel lower as rain is forecast through July 26 for parts of the U.S. Midwest including Iowa and Illinois, Jacquie Voeks, a senior market adviser at the Stewart-Peterson Group in West Bend, Wisconsin, said in a telephone interview.
-- Soybean futures may open down 10 cents to 12 cents a bushel because of the forecast for rain, Voeks said. Soybean-oil futures may to open 0.2 cent to 0.3 cent a pound lower, and soybean-meal futures may open little changed to $1 higher per 2,000 pounds.
-- Wheat futures may open 1 cent to 2 cents a bushel lower, Voeks said.
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