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Soybeans
July soybeans closed at USD9.32 1/2, up 1/2 cent; July soymeal closed at USD271.40, up US2.00; July soybean oil closed at 37.42, down 10 points. The higher dollar created some downward pressure but firmer crude oil was supportive. Soybean planting surged ahead to 74% complete, advancing 21% in the week. "If there is a worry in soybeans it's a worsening drought in the Lower Mississippi Delta, retarding growth in southern Mississippi, Louisiana and southeast Arkansas," say Martell Crop Projections.
Corn
July corn closed at USD3.48 1/2, down 5 1/2 cents; Dec Corn closed at USD3.69 3/4, down 5 1/2 cents. "The US corn crop improved with increased heat and sunshine last week. The national crop rating reached 76% good-excellent, 20% fair and 4% poor. Growth was rapid very rapid boosting corn emergence to 85%. Freeze damaged corn has fully recovered in Iowa, where corn was considered 74% good-excellent, 21% fair and 5 % poor," say Martell Crop Projections.
Wheat
July CBOT wheat closed at USD4.42 1/2, down 8 1/4 cents; July KCBT wheat closed at USD4.73 3/4, down 4 1/4 cents; July MGEX wheat closed at USD4.97 1/4, down 3 3/4 cents. Tomorrow's USDA weekly export sales will be the last report for the 2009/10 marketing year. "Overall US winter wheat potential is favorable, but diseases are cropping up in Kansas and Washington, the number 1 and 3 leading US winter wheat states," say Martell Crop Projections.
July soybeans closed at USD9.32 1/2, up 1/2 cent; July soymeal closed at USD271.40, up US2.00; July soybean oil closed at 37.42, down 10 points. The higher dollar created some downward pressure but firmer crude oil was supportive. Soybean planting surged ahead to 74% complete, advancing 21% in the week. "If there is a worry in soybeans it's a worsening drought in the Lower Mississippi Delta, retarding growth in southern Mississippi, Louisiana and southeast Arkansas," say Martell Crop Projections.
Corn
July corn closed at USD3.48 1/2, down 5 1/2 cents; Dec Corn closed at USD3.69 3/4, down 5 1/2 cents. "The US corn crop improved with increased heat and sunshine last week. The national crop rating reached 76% good-excellent, 20% fair and 4% poor. Growth was rapid very rapid boosting corn emergence to 85%. Freeze damaged corn has fully recovered in Iowa, where corn was considered 74% good-excellent, 21% fair and 5 % poor," say Martell Crop Projections.
Wheat
July CBOT wheat closed at USD4.42 1/2, down 8 1/4 cents; July KCBT wheat closed at USD4.73 3/4, down 4 1/4 cents; July MGEX wheat closed at USD4.97 1/4, down 3 3/4 cents. Tomorrow's USDA weekly export sales will be the last report for the 2009/10 marketing year. "Overall US winter wheat potential is favorable, but diseases are cropping up in Kansas and Washington, the number 1 and 3 leading US winter wheat states," say Martell Crop Projections.