Soybeans, Corn May Fall on Advancing Harvest; Wheat Seen Lower
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 1 cent to 2 cents a bushel lower on speculation that rain during the past month across the U.S. Midwest boosted yields as the harvest accelerates, Jerry Gidel, the chief grain analyst for Rice Dairy LLC in Chicago, said in a telephone interview.
-- Corn futures are called to open 1 cent to 2 cents a bushel lower as dry weather forecast for the next 10 days will speed up crop collecting, Gidel said.
-- Wheat futures may open steady to 2 cents a bushel lower on speculation that rains across the southern U.S. Great Plains will improve soil moisture for rapid planting, boosting yield potential, Gidel said.
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