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Wheat Futures May Open Lower After Russia Export Concerns Ease

Sept. 3 (Bloomberg) -- What follows are opening calls for U.S. grain and oilseed markets, which open on the Chicago Board of Trade at 6 a.m. Singapore time.

-- Wheat futures may open 3 cents a bushel lower on the CBOT after Russia said it had no plans to curb exports as drought cuts production, according to Paul Deane, an agricultural economist at Australia & New Zealand Banking Group Ltd.

-- Soybean futures may open 1 cent to 3 cents a bushel higher in Chicago on expectations funds will remain a positive factor on prices this week after Federal Reserve Chairman Ben S. Bernanke said he wouldn’t rule out more stimulus to support the U.S. economy, Deane said.

-- Corn is called to open 1 cent to 3 cents a bushel higher, Deane said. New-crop corn may find support around current levels after prices declined 1.1 percent on Aug. 31, he said.

To contact the reporter for this story: Phoebe Sedgman in Melbourne at psedgman2@bloomberg.net

To contact the editor responsible for this story: Jake Lloyd-Smith at jlloydsmith@bloomberg.net

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