CBOT Closing Comments
Soybeans
May Soybeans closed at USD9.85 ¾, up 3 cents; May Soybean Meal at USD287.40, down USD1.20; May Soybean Oil USDt $38.80, up 26 points. China bought an additional 120,000 MT of US soybeans for 2009/10 delivery. Net weekly export sales of 101,100 MT for delivery in 2009/10 were poor. Net sales of 691,000 MT for delivery in 2010/11 were all for China.
Corn
May Corn futures closed at USD3.60 ½, up 3 ½ cents; December Corn futures were at USD3.83 ¾, up 6 cents. Weekly export sales were a combined total 1.43 MMT, surpassing pre-report estimates. China buying US corn is certainly supportive, rumours are that they may have purchased significantly more the what has so far been confirmed by the USDA.
Wheat
May CBOT Wheat closed at USD4.84 ½, up 8 ¼ cents; May KCBT Wheat USD4.97 ½, up 6 cents; May MGEX Wheat at USD5.17, up 4 cents. Weekly wheat export sales were better than expected at 173,100 MT for delivery in 2009/10 plus 295,300 MT for delivery in 2010/11. Commodity funds bought an estimated 4,000 contracts of CBOT wheat.
May Soybeans closed at USD9.85 ¾, up 3 cents; May Soybean Meal at USD287.40, down USD1.20; May Soybean Oil USDt $38.80, up 26 points. China bought an additional 120,000 MT of US soybeans for 2009/10 delivery. Net weekly export sales of 101,100 MT for delivery in 2009/10 were poor. Net sales of 691,000 MT for delivery in 2010/11 were all for China.
Corn
May Corn futures closed at USD3.60 ½, up 3 ½ cents; December Corn futures were at USD3.83 ¾, up 6 cents. Weekly export sales were a combined total 1.43 MMT, surpassing pre-report estimates. China buying US corn is certainly supportive, rumours are that they may have purchased significantly more the what has so far been confirmed by the USDA.
Wheat
May CBOT Wheat closed at USD4.84 ½, up 8 ¼ cents; May KCBT Wheat USD4.97 ½, up 6 cents; May MGEX Wheat at USD5.17, up 4 cents. Weekly wheat export sales were better than expected at 173,100 MT for delivery in 2009/10 plus 295,300 MT for delivery in 2010/11. Commodity funds bought an estimated 4,000 contracts of CBOT wheat.
