Corn Futures Called Lower; Soybeans, Wheat May Drop

What follows are opening calls for U.S. grain and oilseed markets.

-- Corn futures are called to open 1 cent to 2 cents a bushel lower on the Chicago Board of Trade as rains in the U.S. Midwest boost soil moisture for early crop development after planting accelerated in the past two weeks, said Roy Huckabay, an executive vice president at the Linn Group in Chicago.

-- Soybean futures may open 1 cent to 3 cents lower after farmers in Brazil and Argentina increased sales of newly harvested crops following a jump in prices this week, Huckabay said. Soybean-meal futures may open 50 cents to $1.50 lower per 2,000 pounds and soybean oil may open 0.1 cent to 0.2 cent a pound higher.

-- Wheat futures may open 1 cent to 3 cents a bushel lower on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange as the dollar’s rally reduces the appeal of U.S. exports, Huckabay said.

-- May options on the CBOT expire today with futures approaching the $10 strike price in soybeans, $3.60 corn options and $5 puts and calls on wheat, Huckabay said.

-- U.S. stocks retreated as disappointing results at Travelers

-- European stocks climbed, paring a weekly decline, after

-- China may be more likely to import corn should international

-- China’s top grain administrator said that regional

-- Rice, sugar-cane and oilseed output in India may increase

-- U.S. frozen-pork stockpiles were 14 percent smaller at the

-- Yara International ASA, the largest publicly traded nitrogen-

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