CBOT Closing Comments


May Soybeans closed at USD9.60, down 8 cents; May Soybean Meal at USD270.90, down USD0.10/ton, May Soybean Oil at USD39.08, down 46 points. The dollar was higher again, and crude oil weaker, which helped drive prices down. Estimates for tomorrow's USDA weekly export sales range from 350,000 to 550,000 MT.


May Corn futures ended at USD3.65, up 2 ¼ cents; December Corn futures closed at USD3.94, up 1 ½ cents. Trade estimates for the tomorrow's weekly export sales range from 550,000 to 750,000 MT. The US weather outlook seems to be improving rapidly, which will help corn plantings in the south and dry things up somewhat further north.


May CBOT Wheat closed at USD4.76, down ½ cent; May KCBT Wheat was at USD4.85 ¼, down ¼ cent; May MGEX Wheat closed at USD5.03 ¼, down 1 ½ cents. estimates for tomorrow's weekly export sales report range from 250,000 to 450,000 MT. The US will be conscious that they are losing out on wheat export orders left, right and centre to the kind of destinations that would be normally expected to be a stronghold.