CBOT Closing Comments
Soybeans
May Soybeans closed unchanged at USD9.82 ¾; Nov Soybeans at USD9.65 ½, up 3 ¾ cents; May Soybean Meal at USD288.60, up USD1.60; May Soybean Oil at USD38.54, down 58 points. Trade estimates for tomorrow's USDA soybean export sales report average around 850,000 MT. Strength from corn helped, although a firmer dollar hindered.
Corn
May Corn futures closed at USD3.57, up 9 ½ cents; December Corn futures closed at USD3.77 ¾, up 8 ¾ cents. Private exporters reported to the USDA the sale of 115,000 MT to China this morning. That could potentially open the door for large scale US exports, although GM reservations need to be overcome before that could happen.
Wheat
May CBOT Wheat ended at USD4.76 ¼, down 2 cents; May KCBT Wheat at USD4.91 ½, down 1 cent; May MGEX Wheat at USD5.13, down 3 ¼ cents. Analysts' average estimates for tomorrow's USDA weekly export sales report are 350,000 MT. A firmer dollar kept prices on the defensive, as to did strong winter wheat condition ratings and spring wheat plantings well ahead of normal.
May Soybeans closed unchanged at USD9.82 ¾; Nov Soybeans at USD9.65 ½, up 3 ¾ cents; May Soybean Meal at USD288.60, up USD1.60; May Soybean Oil at USD38.54, down 58 points. Trade estimates for tomorrow's USDA soybean export sales report average around 850,000 MT. Strength from corn helped, although a firmer dollar hindered.
Corn
May Corn futures closed at USD3.57, up 9 ½ cents; December Corn futures closed at USD3.77 ¾, up 8 ¾ cents. Private exporters reported to the USDA the sale of 115,000 MT to China this morning. That could potentially open the door for large scale US exports, although GM reservations need to be overcome before that could happen.
Wheat
May CBOT Wheat ended at USD4.76 ¼, down 2 cents; May KCBT Wheat at USD4.91 ½, down 1 cent; May MGEX Wheat at USD5.13, down 3 ¼ cents. Analysts' average estimates for tomorrow's USDA weekly export sales report are 350,000 MT. A firmer dollar kept prices on the defensive, as to did strong winter wheat condition ratings and spring wheat plantings well ahead of normal.
