CBOT Close
Soybeans
CBOT Nov soybeans ended down 6 1/4 cents at USD10.36 1/4; Dec soymeal fell USD1.40 to USD296.30; Dec soyoil closed down 26 at 41.75; Soybean export sales of 668,600 MT were down 73 percent from the previous week. Meal sales, like soybean sales, were below trade expectations for the combined marketing years at 65,200 MT. Private exporters announced the sale of 170,500 MT of soybeans to China for 2010/11 delivery and 67,000 MT of soybean oil to unknown for 2010/11.
Corn
Dec corn ended up 3/4 cent at USD4.96; March corn closed up 1/4 cent at USD5.08 3/4. Disappointing export sales led the decline, they were down 88 percent from last week at 584,000 MT. The USD5/bushel mark is proving to be a pretty difficult nut to crack for front month December. Crude oil was sharply lower, which also weighed on corn futures today. Funds apparently added to their length, buying an estimated 3,000 contracts today.
Wheat
Dec CBOT wheat closed at USD7.19 1/4, down 7 1/2 cents; Dec KCBT wheat closed at USD7.50 1/2, down 9 1/4 cents; Dec MGEX wheat closed at USD7.53 1/2, down 5 cents. Wheat futures closed lower for the third day in a row, weighed down by poor weekly export sales data. They came in at 484,600 MT for the 2010/11 marketing year and negative sales of 165,000 MT for marketing year 2011/12. Cancellations to Egypt were reported in both marketing years.
CBOT Nov soybeans ended down 6 1/4 cents at USD10.36 1/4; Dec soymeal fell USD1.40 to USD296.30; Dec soyoil closed down 26 at 41.75; Soybean export sales of 668,600 MT were down 73 percent from the previous week. Meal sales, like soybean sales, were below trade expectations for the combined marketing years at 65,200 MT. Private exporters announced the sale of 170,500 MT of soybeans to China for 2010/11 delivery and 67,000 MT of soybean oil to unknown for 2010/11.
Corn
Dec corn ended up 3/4 cent at USD4.96; March corn closed up 1/4 cent at USD5.08 3/4. Disappointing export sales led the decline, they were down 88 percent from last week at 584,000 MT. The USD5/bushel mark is proving to be a pretty difficult nut to crack for front month December. Crude oil was sharply lower, which also weighed on corn futures today. Funds apparently added to their length, buying an estimated 3,000 contracts today.
Wheat
Dec CBOT wheat closed at USD7.19 1/4, down 7 1/2 cents; Dec KCBT wheat closed at USD7.50 1/2, down 9 1/4 cents; Dec MGEX wheat closed at USD7.53 1/2, down 5 cents. Wheat futures closed lower for the third day in a row, weighed down by poor weekly export sales data. They came in at 484,600 MT for the 2010/11 marketing year and negative sales of 165,000 MT for marketing year 2011/12. Cancellations to Egypt were reported in both marketing years.
