Wheat, Corn, Soybeans Called to Open Lower on Speculation Demand May Slow

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

-- Wheat futures are called to open 8 cents to 10 cents a bushel lower on the Chicago Board of Trade, the Kansas City Board of Trade and the Minneapolis Grain Exchange on speculation that recent price gains may slow demand, while rain in the next week may improve growth prospects for dry crops in Europe, said Jason Britt, the president of brokerage Central States Commodities Inc. in Kansas City, Missouri.

-- Corn futures may open steady to 3 cents a bushel lower on the CBOT on concern that price gains this week may slow purchases by investors and processors, Britt said.

-- Soybean futures may open 3 cents to 5 cents a bushel lower in Chicago on speculation that consumption of U.S. supplies will ease, Britt said. Soybean-oil futures are expected to open steady to 0.5 cent a pound higher, while soybean-meal futures may open down $1.50 to $2 per 2,000 pounds, he said.

Source: http://www.bloomberg.com/news/2011-05-20/wheat-corn-soybeans-called-to-open-lower-on-speculation-demand-may-slow.html