Grain, Soybean Futures Called Higher as Adverse Weather Threatens Crops

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

-- Wheat futures may open 20 cents to 30 cents a bushel higher on the Chicago Board of Trade, the Kansas City Board of Trade and the Minneapolis Grain Exchange as adverse weather threatens to reduce yield potential for crops in the U.S., China, Canada and Europe, said Mark Schultz, the chief analyst for Northstar Commodity Investment Co. in Minneapolis.

-- Corn futures are called to open 10 cents to 15 cents a bushel higher in Chicago as wet, cool weather forecast for the next two weeks will slow U.S. planting and increase risks for smaller acreage and reduced yields, Schultz said.

-- Soybean futures may open 3 cents to 5 cents a bushel higher on the CBOT as dry weather may slow planting in China, boosting demand for imports, Schultz said. Soybean-oil futures are expected to open 0.3 cent to 0.4 cent a pound higher, and soybean-meal futures may open steady to down $1 for 2,000 pounds of the animal feed.

(Source: http://www.bloomberg.com/news/2011-04-25/grain-soybean-futures-called-higher-as-adverse-weather-threatens-crops.html)