Corn Called to Open Lower; Soybeans, Wheat May Fall

What follows are opening calls for U.S. grain and oilseed markets.

-- Corn futures are called to open 1 cent to 2 cents a bushel lower on the Chicago Board of Trade on speculation that farmers will sell more stored grain after prices fell from a six-month high yesterday, said Chad Henderson, a Prime Agricultural Consultants Inc. market analyst in Brookfield, Wisconsin.

-- Soybean futures may open steady to 1 cent a bushel lower on the CBOT on record crop potential in Brazil and Argentina, the two biggest producers and exporters after the U.S., Henderson said. Soybean meal may open steady to $1 a short ton lower, and soybean oil may be unchanged to down 0.1 cent a pound, he said.

-- Wheat futures are called to open 1 cent to 2 cents a bushel lower on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange on speculation that rising world stockpiles will top demand for the grain, Henderson said.

Bloomberg