Soy Seen Higher as Drought May Cut Production; Corn, Wheat Lower

What follows are opening calls for U.S. grain and oilseed markets, which resume trading at 5 p.m. on the Chicago Board of Trade.

-- Soybean futures may open steady to 1 cent a bushel higher on speculation that a U.S. Department of Agriculture report next week will show the worst drought since 1956 damaged plants, Dave Marshall, a farm market adviser for Toay Commodity Futures Group LLC, said by telephone.

-- Wheat futures may open steady to 1 cent a bushel lower as rain in parts of the U.S. Midwest increases soil moisture ahead of planting of winter varieties, Marshall said.

-- Corn futures are called to open steady to 1 cent a bushel lower, Marshall said.

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

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

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