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BLBG: Soybeans May Open Higher on U.S. Export Sales; Corn May Fall; Wheat Steady
 
What follows are opening calls for U.S. grain and oilseed markets.
-- Soybean futures may open 1 cent to 3 cents a bushel higher on the Chicago Board of Trade on increased U.S. export sales, Mark Schultz, the chief analyst for Minneapolis-based Northstar Commodity Investment Co., said in a telephone interview. Soybean-meal futures may open up $1 to $2 for 2,000 pounds, and soybean-oil futures are expected to open steady to down 0.1 cent a pound.
-- Corn futures are called to open 2 cents to 5 cents a bushel lower in Chicago as rain in Iowa and Nebraska, two of the three biggest U.S. producers, may ease the risk of crop damage from a heat wave, while forecasts show less-threatening conditions in parts of the Midwest during the next two weeks, Schultz said.
-- Wheat futures may open 1 cent a bushel lower to 1 cent higher on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange as a weaker dollar reduces the cost of supplies from the U.S., which today reported exports last week were 36 percent below the average of the previous four weeks, Schultz said.
To contact the reporter on this story: Jeff Wilson in Chicago at jwilson29@bloomberg.net.
To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net.
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