CBOT Closing Comments


July soybeans closed at USD9.40 1/2, down 1/2 cent; July soymeal ended USD1.90 lower at USD273.70; July soyoil was 0.56 cents higher at 37.52. The USDA pegged plantings behind the five year average at 53% versus 57% and towards the lower end of trade guesses. The dollar was higher again, limiting upside potential, whilst Euro debt concerns also weighed.


July corn ended at USD3.71, up 2 cents; Dec corn was at USD3.89, up 3 3/4 cents. The USDA's crop progress report showed corn planting at 93% complete versus the five year average of 89%. Emergence is at 71% compared to the five year average of 62%. The crop is rated 71% good/excellent, a four point improvement over last week.


July CBOT wheat ended at USD4.67 1/2, down 4 1/2 cents; July KCBT Wheat was at USD4.90 1/2, down 4 1/2 cents; July MGEX Wheat ended at USD5.10, down 4 1/2 cents. Spring wheat plantings in the US are on par with the five year average at 91% with emergence at 70%. Winter wheat conditions were unchanged from last week at 66% good/excellent.