Elements Rogers Intl Commodity Index (RJA)

[EarlyOne]

Soybeans, Corn Called Higher on Dry Weather; Wheat May Rise

December 28, 2010, 10:33 AM EST

By Jeff Wilson

Dec. 28 (Bloomberg) -- What follows are opening calls for U.S. grain and oilseed markets.

-- Soybean futures may open 5 cents to 8 cents a bushel higher on the Chicago Board of Trade as dry weather threatens yields in Argentina, said Doug Bergman, a grain broker at Advantage Traders Group in Chicago. Soybean-meal futures may open $2 to $3 higher per 2,000 pounds, and soybean oil is expected to open steady to up 0.1 cent a pound.

-- Corn futures are called 2 cents to 4 cents a bushel higher in Chicago on supply concerns in Argentina, Bergman said.

-- Wheat futures may open 5 cents to 8 cents a bushel higher on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange as global supplies of high-quality grain trail demand following adverse weather in Russia, Ukraine, Canada and Australia, Bergman said.