CBOT Closing Comments


March soybean futures closed at USD9.34 ¾, up 2 ¼ cents; November soybean futures were at USD9.25, unchanged; March soymeal futures at USD257.90, unchanged; March soy oil futures at 39.72, up 9 points. Bored, bored, bored, bored. Nothing much looks likely to happen before next Wednesday when the USDA release their monthly supply/demand report. Trade estimates for the soybean crop average 3.349 billion bushels with an average carryout of 193.1 million bushels.


March corn futures closed at USD3.64 ¾, down 7 ¼ cents, and May corn futures at USD3.75 ½, down 7 ½ cents. Trade production estimates for next week's monthly USDA supply demand report ranges from 12.838 to 13.200 billion bushels with an average guess of 13.081 billion bushels. Ending stocks are projected at virtually unchanged from last month, with yields at 164.5 bu/acre.


March CBOT wheat futures closed at USD4.82 ¼, down 8 ¼ cents; March KCBT wheat futures at USD4.93, down 7 cents; March MGEX wheat futures at USD5.03 ¾, down 7 ¾ cents. Analysts on average are predicting that USDA will put wheat ending stocks at 976.6 million bushels, slightly lower than last months report. Yesterdays export sales were disappointing, and still weigh.