CBOT Closing Comments


May Soybeans ended at USD9.59 ½, up ½ cents; May Soybean Meal at USD269.90, up USD2.50/tonne; May Soybean Oil at 39.25, down 58 points. Soybean export sales came in at 214,100 MT for delivery in 2009/10 and 525,000 MT for delivery in 2010/11, much better than expectations for combined sales of 150-250,000 MT. The dollar was up and crude oil down. Concern over the demise of the euro following reports that Greece might be about to go to the IMF for financial assistance, may harm US export hopes weighed.


May Corn futures closed at USD3.76, up 2 cents; December Corn futures at USD4.05 ¼, up 1 ¼ cents. The USDA report weekly export sales for corn were of 747,600 MT for delivery in 2009/10, higher than expectations of sales of 400-600,000 MT. US weather forecasts continue to suggest spring corn planting delays. A firmer US dollar and weaker crude oil kept a lid on prices today.


May CBOT Wheat ended at USD4.89 ¼, down 6 ¾ cents; May KCBT Wheat at USD4.95, down 7 ¼ cents; May MGEX Wheat at USD5.14 ½, down 5 ¾ cents. Wheat export sales were 325,300 MT for old crop and 114,000 MT for new crop, towards the top end of expectations of 300-425,000 MT. Snow is in the forecast for Kansas this weekend, wet weather in the spring wheat planting areas may also support prices.