Grains called to open lower
The U.S. Dollar index continues to strengthen and China's raising lending rates, a combination that continues to put the CME Group grains under pressure.
Early calls for the grains are:
- Corn: 6-8 lower
- Soybeans: 12-15 lower
- Wheat: 9-11 lower
The trip-up is largely due to the continued surge in the U.S. Dollar index, as well as a move by Chinese officials to raise that nation's bank lending rates, which could lead to a pullback in consumption, according to a Dow Jones Newswires report.