CBOT Closing Comments
Soybeans
March soybean futures closed at USD9.13 ½, down ½ cents, March soymeal futures were at USD271.00, down 0.20 points, March soy oil futures finished at 37.00, down 0.21 points. Analyst asay that the USDA will reduce soybean 09/10 ending stocks from 245 to 219 million bushels when they release their report next week.
Corn
March corn futures closed at USD3.51 ½, down 2 ½ cents, and May corn futures at USD3.63, down 2 ¼ cents. The USDA will release the February WASDE report and surveyed analysts average estimate for corn ending stocks are 1.748 billion bushels, down slightly from the 1.764 in the January report. Analysts expect the USDA will raise corn production for South America on the upcoming report.
Wheat
March CBOT wheat futures closed at USD4.73 ¼, down 2 ½ cents, March KCBT wheat futures at USD4.84 ½, down 4 cents, and March MGEX wheat futures at USD5.02 ½, up ¾ cent. The average trade guess for next week's USDA S&D report sees 09/10 wheat stocks falling from 976 to 973 million bushels.
March soybean futures closed at USD9.13 ½, down ½ cents, March soymeal futures were at USD271.00, down 0.20 points, March soy oil futures finished at 37.00, down 0.21 points. Analyst asay that the USDA will reduce soybean 09/10 ending stocks from 245 to 219 million bushels when they release their report next week.
Corn
March corn futures closed at USD3.51 ½, down 2 ½ cents, and May corn futures at USD3.63, down 2 ¼ cents. The USDA will release the February WASDE report and surveyed analysts average estimate for corn ending stocks are 1.748 billion bushels, down slightly from the 1.764 in the January report. Analysts expect the USDA will raise corn production for South America on the upcoming report.
Wheat
March CBOT wheat futures closed at USD4.73 ¼, down 2 ½ cents, March KCBT wheat futures at USD4.84 ½, down 4 cents, and March MGEX wheat futures at USD5.02 ½, up ¾ cent. The average trade guess for next week's USDA S&D report sees 09/10 wheat stocks falling from 976 to 973 million bushels.