CBOT Closing Comments
Soybeans
January soybean futures closed at USD10.39 ¾, up 3 ½ cents, January soymeal futures at USD313.90, down 2.30 points, January soy oil futures at 40.35 cents, up 0.86 points. Beans closed well off the daily highs on end of year profit-taking. Export sales were respectable at 799,000 MT for 2009/10 delivery and 276,000 MT for 2010/11. China took 430,500 MT of soybeans for 2009/10 delivery and 101,000 MT for 2010/11 delivery.
Corn
March corn futures closed at USD4.14 ½, up ¾ cent, with May at USD4.24 ¼, up ¾ cent. Weekly export sales were 772,500 MT and shipments were 863,600 MT. Analysts estimate that 50-100 million bushels of corn might be lost in unharvested acres across the winter. The USDA will issue a revised production estimate on January 12th.
Wheat
March CBOT wheat futures closed at USD5.41 ½, down 3 ¼ cents, March KCBT wheat futures at USD5.36 ¼, down 4 ¼ cents, and March MGEX wheat futures at USD5.45, down 6 ¼ cents. Export sales were 370,266 MT for 2009/10 delivery and shipments were 294,063 MT. Egypt bought 240,000 MT of Russian wheat for March shipment at levels significantly lower than US offers.
January soybean futures closed at USD10.39 ¾, up 3 ½ cents, January soymeal futures at USD313.90, down 2.30 points, January soy oil futures at 40.35 cents, up 0.86 points. Beans closed well off the daily highs on end of year profit-taking. Export sales were respectable at 799,000 MT for 2009/10 delivery and 276,000 MT for 2010/11. China took 430,500 MT of soybeans for 2009/10 delivery and 101,000 MT for 2010/11 delivery.
Corn
March corn futures closed at USD4.14 ½, up ¾ cent, with May at USD4.24 ¼, up ¾ cent. Weekly export sales were 772,500 MT and shipments were 863,600 MT. Analysts estimate that 50-100 million bushels of corn might be lost in unharvested acres across the winter. The USDA will issue a revised production estimate on January 12th.
Wheat
March CBOT wheat futures closed at USD5.41 ½, down 3 ¼ cents, March KCBT wheat futures at USD5.36 ¼, down 4 ¼ cents, and March MGEX wheat futures at USD5.45, down 6 ¼ cents. Export sales were 370,266 MT for 2009/10 delivery and shipments were 294,063 MT. Egypt bought 240,000 MT of Russian wheat for March shipment at levels significantly lower than US offers.