What follows are opening calls for U.S. grain and oilseed markets.
-- Corn futures are called to open down 1 cent a bushel to 1 cent higher on the Chicago Board of Trade after U.S. farmers increased sales following a rally on March 5 to the highest in almost four months, Jim Gerlach, the president of A/C Trading Co. in Fowler, Indiana, said in a telephone interview. Dry weather threatens to expand a U.S. Midwest drought before the planting season, he said.
-- Soybean futures may open 1 cent a bushel lower to 1 cent higher on the CBOT as U.S. and South American farmers boosted sales after prices reached a five-month high, while dry weather threatens yields in parts of Brazil, Gerlach said. Soybean-oil futures are expected to open 0.35 cent to 0.45 cent a pound higher, and soybean-meal futures may open 50 cents to $1.50 lower per 2,000 pounds.
-- Wheat futures may open 1 cent a bushel lower to 1 cent higher on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange on speculation that the sluggish global economy will cut consumption, while hot, dry weather may reduce yields in the southern U.S. Great Plains, Gerlach said.
WHAT TO WATCH: (ALL TIMES NEW YORK) 10:30 a.m. U.S. DOE crude-oil inventories 2 p.m. USDA daily cattle & hog slaughter 3 p.m. USDA broiler eggs set in incubators TOP COMMODITY STORIES: -India’s Singh Demands Urgent Review of Cotton Export Ban -China to Buy Corn If Prices Are Right, Reserve Chief Says -Boar Hunter Sets Sights on China After MF Global: Commodities -Sinking Food Prices Fuel Inflation-Bond Selloff: Mexico Credit -Sinograin May Further Expand in Grain, Oilseed Crushing -China Rapeseed Imports May Jump 19% in 2012, Grain.Gov.Cn Says -Palm Oil Seen Rallying 24% as World Cooking-Oil Supply Drops -Russia Cuts Soybean-Export Duty to 5% Until October on Harvest -Turkey Agrees to Sell 200,000 Tons of Wheat, Barley for Export -South Africa Biofuels Strategy Requires More Soybeans, Sorghum -Rice, Wheat Reserves in India Climb 18% to 54.5 Million Tons -Dalian to Push for Bonded-Warehouse Delivery, Official Says TOP ECONOMIC AND GOVERNMENT NEWS: -Stocks Rise After ADP Says Employment Grew; Treasuries Retreat -Investors With 39% of Greek Debt Agree to Join Swap, IIF Says -Finance Chiefs See Pickup in U.S. Hiring as Confidence Improves -ADP Estimates U.S. Companies Added 216,000 Jobs in February -Worker Productivity in U.S. Cools, Pushing Up Labor Expenses -China Exports to Miss Forecasts, Commerce Minister Indicates -Ulrich Sees China Tax Reform Amid Shift to Consumption Focus -Spain Trails Italy as Growth Concern Halts Rally: Euro Credit -German Factory Orders Unexpectedly Decline on Exports: Economy -Bernanke Seen Accepting Faster Inflation as Fed Seeks Job Boost MARKETS (AS OF 10:01 A.M. NEW YORK TIME): Last %Chg Corn $6.5325 -0.1 CBOT Wheat $6.56 -0.3 Soybeans $13.355 0.02 Soybean Oil $0.5367 0.7 Soybean Meal $364.30 -0.4 WTI Crude Oil $104.71 0.01 N.Y. Gasoline $3.261 1.0 U.S. Dollar Index 79.848 -0.02 S&P 500 1,347.2 0.3