Wheat futures dropped to a five-week low on speculation that exports will increase from India, the world’s second-largest grower. Corn and soybeans also declined as rains aid crops in South America.
What follows are opening calls for U.S. grain and oilseed markets.
Corn futures jumped the most in 10 months as rain and frigid weather slowed the pace of planting in the U.S., the world’s top exporter. Wheat and soybeans rose.
Wheat rose in Chicago, capping the biggest weekly gain in a month, on speculation that dry crop conditions will disrupt supplies in the U.S., the largest exporter.
"Almost every Midwest farmer will be back in the field this weekend and that means more supplies coming to market."
- Jim Gerlach on Oct 17, 2014