CBOT Close
Corn
Corn closed inside of yesterday’s trading range closing on the high end of the day’s price range. Central Illinois processor bids average $3.86 for #2 corn. Crude Oil closed up 1.57 points closing at 54.34 with Crude Oil prices hitting the highest price since November during the trading day at 54.66. USDA weekly corn exports announced today were 1,191,300 MT. Average trade estimates for corn for the Annual March 31st Planting Intentions report are 84.269 million acres with a range of 89 to 80 million acres. USDA’s 2008 number was 86 million acres. May Corn closed at $3.90 ¾ up 5 cents. December Corn closed at $4.22 ¾ up 5 ¼ cents
Soybeans
Soybeans closed lower today on the front months and steady to a little better on new crop soybeans narrowing the spread between the two crops. Central Illinois processor bids average $9.53. Private exporters reported to the USDA Export sales of 35,000 metric tons of soybean oil for delivery to India during the 2008/2009 marketing year. The Dow Jones closed higher at 7924.56 as confidence seems to be improving over the government’s efforts to correct the overwhelming financial crisis. Average trade estimates for soybeans for the Annual March 31st Planting Intentions report are 79.765 with a range of 83 to 77 million acres. USDA’s 2008 number was 75.7 million acres. May Soybeans closed at $9.44, down 7 cents: November Soybeans closed at $8.80 ½, up ½ cents; May Soy meal closed at $290.80, down $3.50; May Soy oil closed at $33.60, up 23 cents
Wheat
Wheat closed better on Chicago and Kansas City markets and lower on the Minneapolis Grain Exchange even though Minneapolis cash grain was higher on the day. Blizzard warnings remain in effect for the Texas and Oklahoma panhandle. Average trade estimates for All Wheat for the Annual March 31st Planting Intentions report are 58.598 acres with a range of 59.9 to 56.7 million acres. USDA’s 2008 All Wheat Planting Intentions were 63.147 million acres. May CBOT Wheat at $5.14 ½, up 6 ½ cent
May KCBT Wheat at $5.60, up 5 cent;; May MGEX Wheat at $6.12 ¾, down 7 ¾ cents
Corn closed inside of yesterday’s trading range closing on the high end of the day’s price range. Central Illinois processor bids average $3.86 for #2 corn. Crude Oil closed up 1.57 points closing at 54.34 with Crude Oil prices hitting the highest price since November during the trading day at 54.66. USDA weekly corn exports announced today were 1,191,300 MT. Average trade estimates for corn for the Annual March 31st Planting Intentions report are 84.269 million acres with a range of 89 to 80 million acres. USDA’s 2008 number was 86 million acres. May Corn closed at $3.90 ¾ up 5 cents. December Corn closed at $4.22 ¾ up 5 ¼ cents
Soybeans
Soybeans closed lower today on the front months and steady to a little better on new crop soybeans narrowing the spread between the two crops. Central Illinois processor bids average $9.53. Private exporters reported to the USDA Export sales of 35,000 metric tons of soybean oil for delivery to India during the 2008/2009 marketing year. The Dow Jones closed higher at 7924.56 as confidence seems to be improving over the government’s efforts to correct the overwhelming financial crisis. Average trade estimates for soybeans for the Annual March 31st Planting Intentions report are 79.765 with a range of 83 to 77 million acres. USDA’s 2008 number was 75.7 million acres. May Soybeans closed at $9.44, down 7 cents: November Soybeans closed at $8.80 ½, up ½ cents; May Soy meal closed at $290.80, down $3.50; May Soy oil closed at $33.60, up 23 cents
Wheat
Wheat closed better on Chicago and Kansas City markets and lower on the Minneapolis Grain Exchange even though Minneapolis cash grain was higher on the day. Blizzard warnings remain in effect for the Texas and Oklahoma panhandle. Average trade estimates for All Wheat for the Annual March 31st Planting Intentions report are 58.598 acres with a range of 59.9 to 56.7 million acres. USDA’s 2008 All Wheat Planting Intentions were 63.147 million acres. May CBOT Wheat at $5.14 ½, up 6 ½ cent
May KCBT Wheat at $5.60, up 5 cent;; May MGEX Wheat at $6.12 ¾, down 7 ¾ cents