CBOT Closing Comments
Soybeans
September soybeans closed at USD10.18, down 4 cents; September soybean meal closed at USD307.60, down USD0.20; September soybean oil closed at 39.95, down 25 points. Soybeans inspected for export was only 7.174 million bu, 4.7 million bu lower than last week. Trade estimates were for 10-15 million bu. The USDA reported soybean good/excellent crop conditions the same as last week at 64%.
Corn
September corn closed at USD4.25 1/2, up 4 1/2 cents; December corn closed at USD4.41 1/2, up 5 1/2 cents. Corn inspected for export was 45.265 million bu last week, 1.49 million bu higher than the previous week, and 8.2 million bu more than the same week last year. Trade estimates were for inspections of 33-36 million bu. The USDA crop progress report showed good/excellent conditions the same as last week at 70%.
Wheat
Sept CBOT wheat closed at USD6.71 1/4, up 8 3/4 cents; Sept KCBT wheat closed at USD7.10 1/2, up 10 1/4 cents; Sept MGEX wheat closed at $7.15, up 8 cents. Wheat inspected for export was 25.5 million bu, 0.9 million bu lower than last week, but still 8.7 million bu more than last year for the same week. The USDA crop progress report showed that as of August 29th spring wheat harvesting was at 69%, up 16 points.
September soybeans closed at USD10.18, down 4 cents; September soybean meal closed at USD307.60, down USD0.20; September soybean oil closed at 39.95, down 25 points. Soybeans inspected for export was only 7.174 million bu, 4.7 million bu lower than last week. Trade estimates were for 10-15 million bu. The USDA reported soybean good/excellent crop conditions the same as last week at 64%.
Corn
September corn closed at USD4.25 1/2, up 4 1/2 cents; December corn closed at USD4.41 1/2, up 5 1/2 cents. Corn inspected for export was 45.265 million bu last week, 1.49 million bu higher than the previous week, and 8.2 million bu more than the same week last year. Trade estimates were for inspections of 33-36 million bu. The USDA crop progress report showed good/excellent conditions the same as last week at 70%.
Wheat
Sept CBOT wheat closed at USD6.71 1/4, up 8 3/4 cents; Sept KCBT wheat closed at USD7.10 1/2, up 10 1/4 cents; Sept MGEX wheat closed at $7.15, up 8 cents. Wheat inspected for export was 25.5 million bu, 0.9 million bu lower than last week, but still 8.7 million bu more than last year for the same week. The USDA crop progress report showed that as of August 29th spring wheat harvesting was at 69%, up 16 points.
