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BLBG: Corn, Soybeans, Wheat Called to Open Lower on Weather (Update1)
 
By Jeff Wilson and Tony C. Dreibus

April 7 (Bloomberg) -- What follows are opening calls for U.S. grain and oilseed markets.

-- Corn futures are called to open steady to 1 cent a bushel lower on the Chicago Board of Trade as warmer, drier weather next week may accelerate field preparation and planting in the U.S., said Mark Schultz, the chief analyst for Northstar Commodity Investment Co. in Minneapolis.

-- Soybean futures may open steady to 2 cents a bushel lower in Chicago as drier weather helps harvesting in South America and planting in the U.S., Schultz said. Soybean-meal futures may open steady to 50 cents lower per 2,000 pounds, and soybean oil is expected to open down 0.1 cent to 0.2 cent a pound, he said.

-- Wheat futures may open 2 cents to 4 cents a bushel lower on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange as milder temperatures and rain across the southern Great Plains help early plant development and increase yield potential of the U.S. winter crop, Schultz said.

To contact the reporters on this story: Jeff Wilson in Chicago at jwilson29@bloomberg.net; Tony Dreibus in Chicago at tdreibus@bloomberg.net.

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