CBOT Closing Comments
Soybeans
July soybeans closed at USD9.55, up 22 1/2 cents; November soybeans closed at USD9.19 3/4, up 16 1/4 cents; July soybean meal closed at USD284.00, up USD12.60; July soybean oil closed at 37.66, up 24 points. Short-covering was a feature with wet weather forecast to slow soybean planting progress in the US. Weekly export sales estimates for tomorrow range from 200-400,000 MT.
Corn
July corn closed at USD3.49 1/2, up 1 cent; Dec corn closed at USD3.70 1/4, up 1/2 cent. Weekly export sales estimates for tomorrow range from 700 TMT to 1.25 MMT. Better than expected crop conditions reported on Tuesday, and ideal growing conditions, have kept a lid on prices this week. A weaker dollar and firmer crude oil was supportive.
Wheat
July CBOT wheat closed at USD.41 3/4, down 3/4 cent; July KCBT wheat closed at USD4.71 1/2, down 2 1/4 cents; July MGEX wheat closed at USD4.97 3/4, up 1/2 cent. Weekly export sales estimates for tomorrow range from 250 - 500,000 MT. Egypt bought wheat from Russia and also from France in this week's tender. Winter wheat harvesting is moving north into southern Oklahoma and the Kansas harvest should be underway in the next week.
July soybeans closed at USD9.55, up 22 1/2 cents; November soybeans closed at USD9.19 3/4, up 16 1/4 cents; July soybean meal closed at USD284.00, up USD12.60; July soybean oil closed at 37.66, up 24 points. Short-covering was a feature with wet weather forecast to slow soybean planting progress in the US. Weekly export sales estimates for tomorrow range from 200-400,000 MT.
Corn
July corn closed at USD3.49 1/2, up 1 cent; Dec corn closed at USD3.70 1/4, up 1/2 cent. Weekly export sales estimates for tomorrow range from 700 TMT to 1.25 MMT. Better than expected crop conditions reported on Tuesday, and ideal growing conditions, have kept a lid on prices this week. A weaker dollar and firmer crude oil was supportive.
Wheat
July CBOT wheat closed at USD.41 3/4, down 3/4 cent; July KCBT wheat closed at USD4.71 1/2, down 2 1/4 cents; July MGEX wheat closed at USD4.97 3/4, up 1/2 cent. Weekly export sales estimates for tomorrow range from 250 - 500,000 MT. Egypt bought wheat from Russia and also from France in this week's tender. Winter wheat harvesting is moving north into southern Oklahoma and the Kansas harvest should be underway in the next week.
