CBOT Closing Comments
Soybeans
March soybeans finished 13 cents lower at $9.55 1/2. Rains again this past week in Argentina have stabilised the crop there, with the Buenos Aires Cereals Exchange saying Friday that the soybean crop would come in at 40mmt, better than last week's prediction of 36.35 to 40mmt. Recession worries also weighed on the demand outlook for beans despite another round of robust export sales Thursday.
Corn
March corn ended down 3 cents at $3.63 1/4 per bushel ahead of a three-day weekend with the markets closed Monday for Presidents Day. An improved weather outlook for South America next week and the Buenos Aires Cereals Exchange upping their production estimate slightly from 12.3 to 13.7mmt to 14mmt weighed on corn.
Wheat
March wheat fell 3 1/4 cents to $5.35 1/2 on spillover weakness from soybeans and corn. There are still some crop concerns around for China, and also in the US too. Unlike corn & soybeans, US wheat sales have only been bumbling along recently.
March soybeans finished 13 cents lower at $9.55 1/2. Rains again this past week in Argentina have stabilised the crop there, with the Buenos Aires Cereals Exchange saying Friday that the soybean crop would come in at 40mmt, better than last week's prediction of 36.35 to 40mmt. Recession worries also weighed on the demand outlook for beans despite another round of robust export sales Thursday.
Corn
March corn ended down 3 cents at $3.63 1/4 per bushel ahead of a three-day weekend with the markets closed Monday for Presidents Day. An improved weather outlook for South America next week and the Buenos Aires Cereals Exchange upping their production estimate slightly from 12.3 to 13.7mmt to 14mmt weighed on corn.
Wheat
March wheat fell 3 1/4 cents to $5.35 1/2 on spillover weakness from soybeans and corn. There are still some crop concerns around for China, and also in the US too. Unlike corn & soybeans, US wheat sales have only been bumbling along recently.
