CBOT Closing Comments


August soybeans closed at USD10.53, down 1/2 cent; November Soybeans at USD10.24 1/4, up 6 1/4 cents; August soybean meal closed at USDS311.50, up USD3.20; August soybean oil closed at 41.36, up 41 points. FC Stone are also expecting a higher soybean yield guessing 44.0 bu/acre against the USDA last estimate of 42.9 bu/acre. The USDA today reported another new crop soybean sale to China, this time it was for 121,000 MT on top of 223,000 MT sold to the same buyer yesterday.


September corn closed at USD4.00 1/4, up 10 3/4 cents; December corn closed at USD4.15, up 11 cents. Corn is following wheat higher, despite FC Stone estimating US corn crop to yield 165.8 bushels/acre, more than 2 bu/acre up on the USDA last estimate of 163.5 bu/acre. for tomorrow’s weekly export sales range from 900,000 to 1,200,000 MT


Sept CBOT wheat closed at USD7.25 3/4, up 45 3/4 cents; Sept KCBT wheat closed at USD7.26 1/2, up 41 1/2 cents; Sept MGEX wheat closed at USD7.32, up 35 cents. Estimates for tomorrow’s weekly export sales range from 600,000 to 850,000 MT. Egypt bought 180,000 MT of Russian wheat and Jordan bought 50,000 MT of Black Sea wheat earlier today.