CBOT Close


July soybeans closed at USD9.58, down 7 1/2 cents; July soybean meal is at USD289.30, down USD1.40; July soybean oil at 37.59, down 34 points. It was a quiet day. Weekly export sales estimates range from 350-550,000 MT for soybeans, and 50-150,000 MT for soybean meal. The trade will be hoping that Chinese buying continues to feature.


July corn closed at USD3.46 1/2, down 5 cents; Dec corn was at USD3.65 1/2, down 6 1/2 cents. Many areas of the Midwest have been hit with heavy rains and are dealing with flooding. "A wave train of thunderstorms keeps sweeping across the Midwest delivering heavy rainfall. Presently, 64% of US corn and US soybean farms are excessively wet," say Martell Crop Projections.


July CBOT wheat ended at USD4.62 1/4, up 1 1/4 cents; July KCBT wheat at USD4.95, up 1 cent; July MGEX Wheat at USD5.32 1/4, down 2 1/2 cents. Weekly export sales estimates for tomorrow range from 250-450,000 MT. Stats Canada reported that the seeded area for Canadian all wheat was 22.7196 million acres versus 24.4569 million acres in 2009. That is almost certainly far higher than reality.