Chicago Close

Posted by Nogger - a legend in his own mind at 22:03 | Categorized as

08/12/10 -- Soybeans

Jan CBOT soybeans ended 10 1/2c higher at USD12.96c; Dec soymeal finished USD2.40 higher at USD345.40; Dec soyoil was 41 points higher at 53.80. Year end profit-taking was short-lived. Funds were estimated to have been net buyers of roughly 5,000 soybeans on the day. Trade estimates for tomorrow's weekly soybean export sales range from 700,000 MT to 1 MMT.

Corn

Dec 10 corn ended at USD5.59 1/2, up 12 1/4 cents; Mar 11 corn closed at USD5.74 1/2, up 12 3/4 cents. The anticipated pre-Christmas ell-off already seems to be attracting buyers. Funds were estimated to have bought approximately 8,000 contracts at the close. Tomorrow's weekly export sales report is expected to show sales of 750-950,000 MT.

Wheat

Dec 10 CBOT wheat finished at USD7.42, down 1 cent; Dec 10 KCBT Wheat was at USD8.27 3/4, up 5 3/4 cents; Dec 10 MGEX wheat closed at USD8.42 3/4, up 7 3/4 cents. Higher protein wheat led the way with Minneapolis and KCBT nearby December contracts reaching their widest levels yet relative to Chicago wheat. Tomorrow's USDA report is expected to see export sales of 450-650,000 MT.