Chicago Grains End Lower

28/07/16 -- Soycomplex: Soybeans closed lower. The USDA reported net weekly export sales of just 1,400 MT for 2015/16, and 678,200 MT for new crop. Trade estimates had been for combined sales of 800,000 MT to 1.2 MMT. The USDA also announced net sakes of 457,000 MT of beans to unknown/China split across both marketing years under the daily reporting system. Weekly shipments reached 698,531 MT - the largest weekly total since March. Aug 16 Soybeans settled at $10.03 1/2, down 7 cents; Nov 16 Soybeans settled at $9.78, down 8 cents; Aug 16 Soybean Meal settled at $341.50, down $3.30; Aug 16 Soybean Oil settled at 29.49, down 4 points.

Corn: The corn market closed lower. Weekly export sales came in at 438,800 MT for 2015/16 and 476,500 MT for 2016/17. Pre-report estimates were for sales of 750 TMT to 1.0 MMT for both marketing years combined. Exports of 1,379,800 MT were up 11 percent from the previous week and 5 percent from the prior 4-week average. The primary destinations were Mexico (272,600 MT), South Korea (272,200 MT), Japan (231,000 MT), Saudi Arabia (122,000 MT), Colombia (76,200 MT) and Taiwan (72,100 MT). South Africa's CEC estimated the corn crop there at 7.26 MMT, up from 7.16 MMT previously (USDA: 6.5 MMT). Sep 16 Corn settled at $3.31 1/4, down 4 1/2 cents; Dec 16 Corn settled at $3.38 3/4, down 4 1/4 cents.

Wheat: The wheat market closed lower. Weekly export sales of 506,100 MT were in line with trade estimates of 400-600 TMT. These included 39,900 MT for Brazil. Exports of 549,900 MT were up 53 percent from the previous week and 25 percent from the prior 4-week average. The primary destinations were Japan (178,200 MT), Chile (92,200 MT), Brazil 59,900 MT), Taiwan (56,800 MT), Peru (49,500 MT), Thailand (27,000 MT) and Mexico (25,700 MT). Brazil will produce 6.29 MMT of wheat this year according to Conab, Safras say 6.175 MMT (2015: 5.52 MMT). Egypt bought Russian and Romanian wheat in it's tender. Sep 16 CBOT Wheat settled at $4.10 1/4, down 4 1/2 cents; Sep 16 KCBT Wheat settled at $4.09, down 3 1/2 cents; Dec 16 MGEX Wheat settled at $5.01 3/4, down 2 cents.