Soybeans, Corn May Rise on Improving Demand; Wheat Seen Falling
What follows are opening calls for U.S. grain and oilseed markets, which resume trading at 5 p.m. on the Chicago Board of Trade.
-- Soybean futures may open steady to 3 cents a bushel higher on speculation that a September slump in prices will spur increased demand and reduce sales by farmers, Jacquie Voeks, a senior market adviser for West Bend, Wisconsin-based Stewart Peterson Group, said in a telephone interview.
-- Corn futures are called to open steady to 2 cents a bushel higher after a government report today showed grain-based ethanol production last week jumped 2.2 percent to the highest since the end of June, Voeks said.
-- Wheat futures may open steady to 2 cents a bushel lower on speculation that the highest prices ever for this time of the year will spur increased U.S. planting of winter varieties and slow demand, Voeks said.
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