Corn, Soybeans, Wheat Called Higher as Weather May Cut Yields
What follows are opening calls for U.S. grain and oilseed markets.
-- Corn futures are called to open up 5 cents to 6 cents a bushel on the Chicago Board of Trade on speculation that yields will decline as wet weather delays U.S. planting, said Jim Gerlach, the president of A/C Trading Inc. in Fowler, Indiana.
-- Soybean futures may open 5 cents to 6 cents a bushel higher in Chicago on the slow pace of sowing in the U.S., Gerlach said. Soybean-oil futures are expected to open 0.2 cent a pound higher, and soybean-meal futures may open up $1 per 2,000 pounds, he said.
-- Wheat futures may open 1 cent a bushel higher on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange, as rain hampers spring seeding in Canada and the northern U.S., while drought hurts crops in the southern Great Plains, Gerlach said.
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