CBOT Close


September soybeans closed at USD10.41 1/4, down 2 1/2 cents; September soybean meal closed at USD307.30, down USD1.40; September soybean oil closed at 41.16, down 10 points. Private exporters announced the sale of 115,000 MT of soybeans to China. Trade was quiet ahead of Friday's supply and demand numbers from the USDA. The range of trade guesses for ending stocks for 2010/11 is 129 to 350 million bushels. Export sales will be out on Friday, a day later than normal following the Labor Day holiday Monday.


September corn closed at USD4.47 1/2, down 4 cents; December corn closed at USD4.62 1/2, down 3 3/4 cents. The USDA monthly supply demand report will be out Friday. Trade estimates for corn ending stocks for 2010/11 range from 950 million to 1.275 billion bushels. This season's production estimates average around 13.203 billion bushels, with yields at just under 163 bu/acre. Export sales are also out on Friday. Harvesting is ahead of schedule, with the crop running around nine days ahead of normal development.


Sept CBOT wheat closed at USD6.78 3/4, down 23 3/4 cents; Sept KCBT wheat closed at USD7.20 1/4, down 18 1/2 cents; Sept MGEX wheat closed at UISD7.18 1/2, down 20 1/2 cents. Traders are squaring up ahead of Friday’s USDA crop report. The report will focus on the world wheat output, and trade estimates are predicting a drop of 4 MMT in world production from last months report. Private exporters announced the sale of 109,000 MT of HRW wheat to "unknown" today. Stats Canada estimated Canadian all wheat stocks at 7.8 MMT, a million up on trade estimates.