Soybeans Called Higher as Demand May Improve; Corn May Gain
What follows are opening calls for U.S. grain and oilseed markets, which open at 5 p.m. on the Chicago Board of Trade.
-- Soybean futures are called to open 2 cents to 3 cents higher on speculation that a U.S. Department of Agriculture report tomorrow will show increased exports of the oilseed and its products, said Dax Wedemeyer, a commodity broker at US Commodities in West Des Moines, Iowa. Soybean-oil futures may open 0.1 cent to 0.2 cent a pound higher, and soybean-meal futures may open $1 to $2 higher per 2,000 pounds.
-- Corn futures may open 1 cent to 2 cents a bushel higher on speculation that demand for the grain may increase, Wedemeyer said.
-- Wheat futures may open 1 cent to 2 cents a bushel higher, Wedemeyer said.
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