Corn, Soy Called to Open Lower as Demand Slows; Wheat May Fall

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 2 cents to 3 cents a bushel lower on speculation that demand will slow after prices surged to a record on July 23, said Sterling Smith, an analyst at Citigroup Global Markets in Chicago.

-- Soybean futures may open 2 cents to 4 cents a bushel lower on speculation that demand will slow after prices reached an all- time high on July 23, Smith said. Soybean-oil futures may open 0.1 cent to 0.2 cent a pound lower, and soybean-meal futures may open $1.50 to $3.50 lower per 2,000 pounds.

-- Wheat futures may open steady to 2 cents to 3 cents a bushel lower, Smith said.

To contact the reporter on this story: Tony C. Dreibus in Chicago at tdreibus@bloomberg.net.

To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net