CBOT Close
Soybeans
CBOT September soybeans ended 3 1/2 cents lower at USD10.04 1/2; December soyoil settled 0.07 cents higher at 40.12. December soymeal ended USD1.60 lower at USD293.60. China are set to start auctioning off soybeans for the first time this year this month. US farmers will plant more acres of soybeans for the harvest in 2011 according to Farm Futures magazine. The soybean acreage will increase to 79.6 million acres, the third record acreage in a row, they say.
Corn
CBOT September corn ended 7 3/4 cents higher at USD4.32 1/4; December corn finished 7 1/2 cents higher at USD4.46 3/4. The word on the streets is that the USDA will lower it's US corn yield estimate next Friday. However, US corn acres could increase by almost 2% in 2011, to 89.5 million, from the 87.9 million sown this year. That would be the second biggest crop put in since the end of World War Two, according to Farm Futures magazine.
Wheat
CBOT Dec wheat ended up 23 cents at USD7.08 3/4 a bushel; KCBT Dec wheat rose 24 1/4 cents to USD7.26 3/4; MGEX Dec wheat was up 22 1/2 cents to USD7.26. Egypt bought 225,000 MT of US wheat in it's tender today. Germany also bought US spring wheat for the first time in three years. They are expected to be back to purchase up to 1 MMT this season after rains ruined a large part of their harvest this year.
CBOT September soybeans ended 3 1/2 cents lower at USD10.04 1/2; December soyoil settled 0.07 cents higher at 40.12. December soymeal ended USD1.60 lower at USD293.60. China are set to start auctioning off soybeans for the first time this year this month. US farmers will plant more acres of soybeans for the harvest in 2011 according to Farm Futures magazine. The soybean acreage will increase to 79.6 million acres, the third record acreage in a row, they say.
Corn
CBOT September corn ended 7 3/4 cents higher at USD4.32 1/4; December corn finished 7 1/2 cents higher at USD4.46 3/4. The word on the streets is that the USDA will lower it's US corn yield estimate next Friday. However, US corn acres could increase by almost 2% in 2011, to 89.5 million, from the 87.9 million sown this year. That would be the second biggest crop put in since the end of World War Two, according to Farm Futures magazine.
Wheat
CBOT Dec wheat ended up 23 cents at USD7.08 3/4 a bushel; KCBT Dec wheat rose 24 1/4 cents to USD7.26 3/4; MGEX Dec wheat was up 22 1/2 cents to USD7.26. Egypt bought 225,000 MT of US wheat in it's tender today. Germany also bought US spring wheat for the first time in three years. They are expected to be back to purchase up to 1 MMT this season after rains ruined a large part of their harvest this year.
