CBOT Closing Comments


May corn closed at $3.95 ½, down 1 cent. Crude oil finished mostly higher and the dollar more or less around unchanged. The DJIA closed sharply higher which added some support, although the upcoming USDA planting intention report is probably the most over-riding factor in the market at the moment.


May Soybeans closed at $9.55 ½, up 3 ½ cents. Beans closed slightly higher on the day after giving up significant gains from the early trading session. Firmer crude oil lent support as did the ongoing conflict between the government and the farmers in Argentina.


May CBOT wheat closed at $5.49 ¼, down 1 cent. Winter wheat ratings in Texas, Kansas & Oklahoma showed little change on a week ago. Early strength came from sharply higher soybeans, but that was quickly eroded as the session wore on.