Corn Called Higher on Increased Demand; Soy, Wheat May Rise

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

-- Corn futures are called to open 3 cents to 5 cents a bushel higher on the Chicago Board of Trade, on signs that the doubling of prices in the past year has yet to slow demand from makers of animal feed or ethanol, said Jim Gerlach, the president of A/C Trading Inc. in Fowler, Indiana.

-- Soybean futures may open 1 cent to 3 cents a bushel higher in Chicago on speculation that U.S. farmers will cut planting this year by more than the government forecast, as they switch to more profitable crops including corn and cotton, Gerlach said. Soybean-oil futures are expected to open down 0.1 cent to up 0.1 cent a pound higher, and soybean-meal futures may open steady to up $1 for 2,000 pounds of the animal feed.

-- Wheat futures may open 2 cents to 4 cents a bushel higher on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange, as hot, dry weather threatens to reduce production in the U.S., the biggest exporter, Gerlach said.

(Source: http://www.bloomberg.com/news/2011-04-07/corn-called-higher-on-increased-demand-soy-wheat-may-rise-1-.html)