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Grains, Soy May Rise as Demand Climbs Following Price Slump

Jan. 19 (Bloomberg) -- What follows are opening calls for U.S. grain and oilseed markets.

-- Corn futures are called to open 3 cents to 4 cents a bushel higher on the Chicago Board of Trade on speculation that demand for U.S. supplies will rise after prices slumped almost 9 percent in the past week, Jim Gerlach, the president of A/C Trading Co. in Fowler, Indiana, said in a telephone interview. Adverse weather has also reduced crop prospects in South America, he said.

-- Soybean futures may open 9 cents to 12 cents a bushel higher in Chicago on speculation that adverse weather threatening yields in South America will spur increased Chinese purchases of U.S. supplies, Gerlach said. Soybean-oil futures are expected to open 0.3 cent to 0.5 cent a pound higher, and soybean-meal futures may open $3 to $4 higher per 2,000 pounds.

-- Wheat futures may open 2 cents to 3 cents a bushel higher on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange on speculation that the 25 percent drop in prices in the past 12 months will increase export demand for U.S. grain Gerlach said.

11 a.m. DOE U.S. Crude Oil Inventories
2 p.m.  USDA Daily Hog and Cattle Slaughter

-Sugar Trade Bets Biggest Glut in Five Years Ending: Commodities
-Super Bowl Chicken Wings Flying to Record: Chart of the Day
-Global Corn Production Forecast Raised on China, Ukraine Crops
-Argentina May Produce 33% Less Corn Than Forecast on Drought
-Food Demand to Stay ‘Strong’ Amid Global Slowdown, Viterra Says
-‘Centralization’ of Food Output Must Be Reversed, Ferreira Says
-Japan Purchases Most Milling Wheat in Seven Months in Tender
-Russia’s Grain Exports Rise 12% in 11 Months, Barley Gains 8.4%
-Ukraine’s Winter-Wheat Harvest May Decline 30%, ProAgro Says
-Egypt’s FIHC Said to Seek 50,000 Tons of Sunflower, Soy Oils
-Kazakhstan State Grain Trader Buys 4.6 Million Tons of Cereals
-EU Rapeseed Prices to Remain High in 2012, Sofiproteol CEO Says
-Palm-Oil Imports by Pakistan May Plunge on Truckers’ Strike
-Palm Oil Drops as Pakistan Imports May Fall; Rain Aids Soybeans
-Palm-Oil Prices to Be ‘Firm’ in 2012, Malaysian Board Says
-South Africa Farmers Probably Planted 8.4% More Corn in 2011-12
-U.S. May Expand Corn Output to Amid Argentina Loss, FAO Says
-Thai Rice Production Seen Climbing to Record After Floods

-U.S. Stocks Rise on Earnings Reports as Jobless Claims Plunge
-Jobless Claims in U.S. Fall to Lowest in Almost Four Years
-Consumer Prices in U.S. Little Changed as Fuel Costs Fall
-U.S. Housing Starts Dropped More Than Forecast in December
-Dollar Maintains Two-Day Decline on U.S. Recovery, Stock Gains
-Chinese Officials Said to Weigh Easing Constraints on Banks
-Dimon, Blankfein Predict Markets to Rebound as Rivals Pull Back
-U.K. Consumer Confidence Declines to Near Record Low: Economy

                              Last      %Chg
Corn                         $5.9725     0.6
CBOT Wheat                   $5.955      0.5
Soybeans                     $11.945     0.9
Soybean Oil                  $0.508      0.8
Soybean Meal                 $315.50     1.1
WTI Crude Oil                $101.31     0.7
N.Y. Gasoline                $2.8294     0.1
U.S. Dollar Index            80.35      -0.3
S&P 500                      1,311.25    0.3

To contact the reporters on this story: Jeff Wilson in Chicago at; Whitney McFerron in Chicago at

To contact the editor responsible for this story: Steve Stroth at

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