CBOT Closing Prices


November soybeans closed at $9.68 ½, down 5 cents, December soymeal at $291.30, up $3.70, and December soyoil at 36.86, down 62 points. The trade continues to focus on an improved weather outlook for the first fortnight in November. Estimates for tomorrow's export sales report range from 400,000 to 600,000 MT. Crude oil fell sharply, closing almost $2.50 lower, close to $77/barrel.


December corn finished at $3.69, down 1 ¾ cents, and March at $3.81 ½, down 1 ½ cents. Estimates for tomorrow's weekly export sales report range between 600,000 and 800,000 MT. Last week sales were a dismal 249,500 MT. The US Energy Dept said crude oil stocks rose 800,000 barrels last week to 339.9 million barrels. That was less than anticipated, but with gasoline stockpiles up 1.7 million barrels, crude oil declined to almost $77/barrel.


December wheat settled at $4.94 ¾, down 8 ½ cents. Wheat traded both sides today, but finished up weaker again despite reports that farmers may elect to use their prevent plant insurance due to cooler ground temps and muddy fields rather than attempt to plant wheat under those conditions. Weekly exports sales estimates for tomorrow range from 400,000 to 600,000 MT. Last week's sales were 685,100 MT.