CBOT Closing Comments
Soybeans
November beans closed at 9.18, down 9 cents. Export sales were strong at 1,384,800 MT, but record production is also round the corner. FCStone said today that US soybean output will be a record 3.329 billion, with a yield of 43.4 bu/acre. Output from Brazil and Argentina will also likely be record in 2010.
Corn
December corn closed at $3.40 ½, down 3 ½ cents. Weekly export sales were good at 1,223,400 MT, but a huge US crop is waiting in the wings with seemingly little threat from frost for the time being.
Wheat
December wheat finished at $4.52 ¾, down 4 ¾ cents. Export sales today were 538,152 MT or 19,773,696 bushels and shipments were 23,196,298 bushels, a marketing year high. Morocco are said to be tendering for 400,000 MT of wheat. Russia looks the favourite seller to me.
November beans closed at 9.18, down 9 cents. Export sales were strong at 1,384,800 MT, but record production is also round the corner. FCStone said today that US soybean output will be a record 3.329 billion, with a yield of 43.4 bu/acre. Output from Brazil and Argentina will also likely be record in 2010.
Corn
December corn closed at $3.40 ½, down 3 ½ cents. Weekly export sales were good at 1,223,400 MT, but a huge US crop is waiting in the wings with seemingly little threat from frost for the time being.
Wheat
December wheat finished at $4.52 ¾, down 4 ¾ cents. Export sales today were 538,152 MT or 19,773,696 bushels and shipments were 23,196,298 bushels, a marketing year high. Morocco are said to be tendering for 400,000 MT of wheat. Russia looks the favourite seller to me.