CBOT Close
Soybeans
July soybeans closed at USD9.48 1/2, up 1 1/4 cents; July soybean meal closed at USD289.40, down USD0.40; July soybean oil closed at 36.28, up 35 points. This morning's quarterly grain stocks report showed soybean stocks ns at 571 million bushels, below the trade average estimate of 594 million bushels. Planted acreage came in at 78.868 million acres over the average trade estimate of 78.18.
Corn
July corn rose 29 1/4 cents to USD3.54 1/4;, Dec corn ended up 29 1/2 cents at USD3.73 1/2. The quarterly stocks report showed 4.310 billion bushels of corn on hand which was below the lowest range of estimates. Corn acres were also a surprise to the trade coming in below the low end of trade estimates at 8.872 million acres.
Wheat
July CBOT wheat closed at USD4.64 3/4, up 22 3/4 cents; July KCBT wheat closed at $4.86, up 17 3/4 cents; July MGEX wheat closed at USD5.07, up 14 1/2 cents. Planted acres were at 54.305 million, up from the 53.825 million acres average trade guess, but planted acres were still down 8% from 2009 and the lowest since 1971. The stocks report showed wheat stocks as of June 1 at 973 million bushels which was 33 million bushel above the average trade estimate.
July soybeans closed at USD9.48 1/2, up 1 1/4 cents; July soybean meal closed at USD289.40, down USD0.40; July soybean oil closed at 36.28, up 35 points. This morning's quarterly grain stocks report showed soybean stocks ns at 571 million bushels, below the trade average estimate of 594 million bushels. Planted acreage came in at 78.868 million acres over the average trade estimate of 78.18.
Corn
July corn rose 29 1/4 cents to USD3.54 1/4;, Dec corn ended up 29 1/2 cents at USD3.73 1/2. The quarterly stocks report showed 4.310 billion bushels of corn on hand which was below the lowest range of estimates. Corn acres were also a surprise to the trade coming in below the low end of trade estimates at 8.872 million acres.
Wheat
July CBOT wheat closed at USD4.64 3/4, up 22 3/4 cents; July KCBT wheat closed at $4.86, up 17 3/4 cents; July MGEX wheat closed at USD5.07, up 14 1/2 cents. Planted acres were at 54.305 million, up from the 53.825 million acres average trade guess, but planted acres were still down 8% from 2009 and the lowest since 1971. The stocks report showed wheat stocks as of June 1 at 973 million bushels which was 33 million bushel above the average trade estimate.