BS: Soybeans, Corn, Wheat Called Lower as Dollar Rally Cuts Demand
Oct. 27 (Bloomberg) -- What follows are opening calls for U.S. grain and oilseed markets.
-- Soybean futures may open 12 cents to 15 cents a bushel lower on the Chicago Board of Trade as the dollar’s rally reduces the allure of commodity investments, said Jeff Thompson a grain broker at ABN Amro Clearing LLC in Chicago. Soybean-meal futures may open $3 to $5 lower per 2,000 pounds, and soybean oil is expected to open down 0.6 cent to 0.7 cent a pound.
-- Corn futures are called 4 cents to 6 cents a bushel lower as the dollar gained for the fourth time in five sessions against a basket of major currencies, Thompson said.
-- Wheat futures may open steady to 2 cents a bushel lower on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange as the dollar’s rebound erodes the appeal of U.S. exports, Thompson said.
--Editors: Patrick McKiernan, Millie Munshi
To contact the reporter on this story: Jeff Wilson in Chicago at jwilson29@bloomberg.net.
To contact the editor responsible for this story: Patrick McKiernan at pmckiernan@bloomberg.net
