BLBG: Wheat, Corn, Soybean Futures Called Higher in Chicago After Dollar Slumps
What follows are opening calls for U.S. grain and oilseed markets.
-- Wheat futures may open 7 cents to 10 cents a bushel higher on the Chicago Board of Trade, the Kansas City Board of Trade and the Minneapolis Grain Exchange as the dollar’s slump enhances the appeal of U.S. exports, said Don Roose, the president of U.S. Commodities Inc. in West Des Moines, Iowa. Adverse U.S. weather also threatens prospects for the winter crop, he said.
-- Corn futures are called 6 cents to 8 cents a bushel higher on the CBOT after the Federal Reserve’s latest stimulus plan drove the greenback lower and boosted commodities, Roose said.
-- Soybean futures may open 15 cents to 18 cents higher on the dollar’s slide, Roose said. Soybean meal futures may open $2 to $3 higher per 2,000 pounds, and soybean oil is expected to open up 0.7 cent to 0.9 cent a pound.
To contact the reporters on this story: Jeff Wilson in Chicago at jwilson29@bloomberg.net; Whitney McFerron in Chicago at wmcferron1@bloomberg.net
To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net.
