CBOT Close


September soybeans closed at USD10.45 1/4, up 11 1/4 cents; September soybean meal at USD306.50, up USD4.30; September soybean oil at 41.59, up 14 points. The USDA confirmed the sale of 110,000 MT of beans to unknown destinations. Strong export potential and reports of concerns over yields underpin losses for now. Soybean ratings held steady at 66% good/excellent last night. Yesterday’s crop progress report also showed pod setting ahead of the five year average by three points.


September corn closed at USD4.14 3/4, up 7 1/2 cents; December Corn closed at $4.30, up 7 1/4 cents. Corn held on to earlier gains to close higher on the day. The USDA today confirmed the sale of 121,920 MT of corn to Japan. Yesterday’s crop progress report showed 32% of the corn had dented which is 10 points ahead of the five year average indicating the crop is maturing ahead of the recent norm. Funds were estimated to have bought somewhere around 10,000 contracts on the day.


Sept CBOT wheat closed at USD6.51, down 12 3/4 cents; Sept KCBT wheat closed at USD6.77, down 11 cents; Sept MGEX wheat closed at USD6.78, down 4 3/4 cents. Funds sold an estimated 7,000 contracts in Chicago. Ukraine announced, as anticipated, that it will limit the export of grains to 3.5 MMT between now and the end of the year. Egypt bought 55,000 MT of US hard wheat.