Wheat Called Higher on Australia; Soy, Corn May Rise

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

-- Wheat futures may open 7 cents to 10 cents a bushel higher on the Chicago Board of Trade, the Kansas City Board of Trade and the Minneapolis Grain Exchange on speculation that demand for high-quality U.S. grain will improve as rains damage crops in Australia, said Jeff Thompson, a broker for ABN Amro Clearing LLC in Chicago.

-- Soybean futures may open 7 cents to 10 cents a bushel higher on the CBOT on speculation that a weaker U.S. job market will cause the dollar to fall, making American supplies more attractive to overseas buyers, Thompson said. Soybean-meal futures may open $2 to $3 higher per 2,000 pounds, and soybean oil is expected to open up 0.2 cent to 0.3 cent a pound.

-- Corn futures are called to open 6 cents to 8 cents a bushel higher in Chicago as demand improves and a weaker dollar boosts the investment appeal of commodities as a hedge against inflation, Thompson said.

-- Employers added fewer jobs than forecast in November and the

-- Stocks fell, with the Standard & Poor’s 500 Index snapping a two-day rally, and the dollar weakened after America added fewer

-- Canadian wheat farmers harvested less of the grain in 2010

-- Some of China’s soybean crushers have reduced production to

-- China failed to sell any of the 295,700 tons of state-owned

-- China has boosted supply of wheat flour as the government

-- About 23 percent of winter wheat in China’s six main producing provinces, including Shandong and Henan, face drought

-- China’s cotton prices have fallen 15.2 percent from the high on Nov. 9, showing that government measures to ensure an orderly

-- The U.S. and South Korea made “significant progress” in

-- Palm oil had its biggest weekly advance in almost five months

-- Indonesia’s palm-oil output may grow by 1.8 million tons to

-- Palm-oil prices will drop in December before resuming a rally

-- Cooking-oils prices will extend a rally as rising global demand exceeds supplies curbed by drought and heavy rains,

-- Palm-oil prices may slump by June as production recovers and

-- Corn prices are headed to a record $8 a bushel by late June

-- Japan will bring a regular tender for milling wheat forward by two days because of demand from domestic flour mills, said

-- Infrastructure is the “most important issue” for grains,

-- The most sweeping rewrite of Wall Street rules since the 1930s will encourage traders to invest in physical commodities, potentially keeping supply off the market and affecting prices,

-- The commodity rally will last a “long time,” Richard Robb,

-- “Most regulation” causes commodity prices to climb, Timothy

-- Wall Street’s “unprecedented” participation in commodity

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