BLBG: Wheat, Corn, Soybeans Called to Open Higher on U.S., European Weather Woes
What follows are opening calls for U.S. grain and oilseed markets.
-- Wheat futures are called to open 10 cents to 15 cents a bushel higher on the Chicago Board of Trade, the Kansas City Board of Trade and the Minneapolis Grain Exchange as dry weather in Europe and the southern U.S. Great Plains threatens to cut yields, said Mike Zuzolo, the president of Global Commodity Analytics & Consulting in Lafayette, Indiana.
-- Corn futures may open 5 cents to 7 cents a bushel higher on the CBOT as wet weather in the northern Great Plains and in the eastern Midwest delay U.S. planting, Zuzolo said.
-- Soybean futures may open 5 cents to 7 cents a bushel higher in Chicago as soggy fields slow the planting pace in the U.S., Zuzolo said. Soybean-oil futures are expected to open little changed, and soybean-meal futures may open up $1.50 to $2.50 per 2,000 pounds, he said.
To contact the reporter on this story: Whitney McFerron in Chicago at wmcferron1@bloomberg.net
To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net.
