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Posted by Nogger - a legend in his own mind at 23:17 | Categorized as

16/03/11 -- Soybeans: May 11 soybeans closed at USD12.87, up 17 cents; May 11; May 11 soybean meal closed at $USD4.50, up USD3.70; May 11 soybean oil closed at 52.96, up 8 points. Estimates for tomorrow's weekly export sales report range from 350 to 450 thousand MT. Allendale peg the 2011 US soybean acreage at 77.193 million. Japan holds the key, and with reactor 4 looking like failing we could be in for a bumpy ride.

Corn: May 11 corn closed at USD6.16 1/2, down 19 1/2 cents; Dec 11 corn closed at USD5.49 1/4, up 1 1/4 cents. Estimates for tomorrow's weekly export sales report range from 550 to 750 thousand MT. Funds sold an estimated 28,000 old crop contracts today, a large amount bringing sales this month to a supposed 180,000 lots. Allendale peg this year's US corn acreage at 91.29m acres, a bit below the USDA's 92m estimated last month.

Wheat: May 11 CBOT wheat closed at USD6.62, down 5 3/4 cents; May 11 KCBT wheat closed at USD7.78 1/4, up 1 1/4 cents; May 11 MGEX wheat closed at USD8.06, down 1 1/2 cents. Estimates for tomorrow's weekly export sales report range from 400 to 600 thousand MT. Allendale peg the 2010/11 US wheat acreage at 57.435 million acres.