CBOT Closing Comments
Soybeans
August soybeans closed at USD10.55, up 2 cents; August soybean meal closed at USD313.60, up USD2.10; August soybean oil closed at 41.26, down 10 points. Weekly export sales were a combined 1,174,088 MT, expectations were for sales of 950,000 – 1,250,000 MT. Actual exports were 259,700 MT. In addition the USDA reported 455,000 MT of new crop soybeans for delivery to China and 111,500 MT of new crop soybeans for delivery to unknown.
Corn
September corn closed at USD4.03 1/4, up 3 1/4 cents; December corn closed at USD4.18, up 3 cents. Weekly export sales were a combined 1,294,058 MT, above the high end of trade estimates for combined sales of 900,000 to 1,200,000 MT. Informa analyst’s forecast US corn production at 13.448 billion bushels with a yield of 166 bu/acre.
Wheat
Sept CBOT wheat closed at USD7.25 3/4, up 45 3/4 cents; Sept KCBT wheat closed at USD7.26 1/2, up 41 1/2 cents; Sept MGEX wheat closed at USD7.32, up 35 cents. Weekly USDA net export sales 854,600 MT for the 2010/11 marketing year were slightly above expectations for sales of 600,000 to 850,000 MT. Interestingly Egypt featured as a 110,000 MT buyer. Exports came in at 572,700 MT.
August soybeans closed at USD10.55, up 2 cents; August soybean meal closed at USD313.60, up USD2.10; August soybean oil closed at 41.26, down 10 points. Weekly export sales were a combined 1,174,088 MT, expectations were for sales of 950,000 – 1,250,000 MT. Actual exports were 259,700 MT. In addition the USDA reported 455,000 MT of new crop soybeans for delivery to China and 111,500 MT of new crop soybeans for delivery to unknown.
Corn
September corn closed at USD4.03 1/4, up 3 1/4 cents; December corn closed at USD4.18, up 3 cents. Weekly export sales were a combined 1,294,058 MT, above the high end of trade estimates for combined sales of 900,000 to 1,200,000 MT. Informa analyst’s forecast US corn production at 13.448 billion bushels with a yield of 166 bu/acre.
Wheat
Sept CBOT wheat closed at USD7.25 3/4, up 45 3/4 cents; Sept KCBT wheat closed at USD7.26 1/2, up 41 1/2 cents; Sept MGEX wheat closed at USD7.32, up 35 cents. Weekly USDA net export sales 854,600 MT for the 2010/11 marketing year were slightly above expectations for sales of 600,000 to 850,000 MT. Interestingly Egypt featured as a 110,000 MT buyer. Exports came in at 572,700 MT.