CBOT Closing Comments
Soybeans
July soybeans settled 15 1/2 cents lower at $12.43 a bushel, and November soybeans finished 9 1/2 cents lower at $10.06. The weekly export sales from the USDA were pretty strong at 443,600 MT. In addition private exporters reported sales of 660,000 MT of soybeans for delivery to China during the 2009/10 marketing year, and and 152,400 MT sold to unknown. That is a seriously lot of kit, and seems to indicate that sales to China are far from finished.
Corn
July closed down 6 cents at $3.45 3/4 a bushel. sales today were a combined total of 1.27 MMT above the trade estimates of 550,000 to 850,000 MT. Today’s sales bring the total export sales to 1.3678 billion bushels approaching the USDA forecast of 1.9 billion bushels. Private exporters reported sales of 152,400 MT of corn for delivery to unknown destination for the 2009/10 marketing year.
Wheat
September wheat closed down 6 1/2 cents at $5.29 a bushel. Export sales were 241,860 MT below the low end of trade guesses. Variable rain amounts could postpone harvest in some areas over the next five days in the Southern Plains but will continue to be a challenge through July 7th to the 11th from Kansas north into the Dakotas with above normal rainfall predicted in those areas.
July soybeans settled 15 1/2 cents lower at $12.43 a bushel, and November soybeans finished 9 1/2 cents lower at $10.06. The weekly export sales from the USDA were pretty strong at 443,600 MT. In addition private exporters reported sales of 660,000 MT of soybeans for delivery to China during the 2009/10 marketing year, and and 152,400 MT sold to unknown. That is a seriously lot of kit, and seems to indicate that sales to China are far from finished.
Corn
July closed down 6 cents at $3.45 3/4 a bushel. sales today were a combined total of 1.27 MMT above the trade estimates of 550,000 to 850,000 MT. Today’s sales bring the total export sales to 1.3678 billion bushels approaching the USDA forecast of 1.9 billion bushels. Private exporters reported sales of 152,400 MT of corn for delivery to unknown destination for the 2009/10 marketing year.
Wheat
September wheat closed down 6 1/2 cents at $5.29 a bushel. Export sales were 241,860 MT below the low end of trade guesses. Variable rain amounts could postpone harvest in some areas over the next five days in the Southern Plains but will continue to be a challenge through July 7th to the 11th from Kansas north into the Dakotas with above normal rainfall predicted in those areas.
