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November soybeans closed at USD10.84 1/2, up 15 1/2 cents; October soybean meal closed at USD306.10, up USD1.40; October soybean oil closed at 42.65, up 74 points. Soybean inspections for export were 12.078 million bushels compared to 7.283 million bushels the previous week. The USDA said that China bought 225,000 MT of US soybeans overnight. The USDA crop progress report showed 60% dropping leaves, 22 points higher than last week and 24 points up from last year. Harvested acres were at 8%, up 6 points from last year. Good/excellent was unchanged from last week.


December corn closed at USD5.08 1/4, down 5 cents; March corn closed at USD5.21 1/4, down 4 1/2 cents. The USDA say that South Korea bought 165,000 MT of US corn overnight and unknown booked 110,000 MT. Weekly grain inspections were 28.460 million bushels compared to last week’s inspections of 42.996 million bushels. The USDA crop progress report showed 69% mature, up 17 points, 49 points from last year and 11 ahead of average. Harvested was up 7 points, at 18%. Good/Excellent condition was unchanged from last weeks 68%.


December CBOT wheat closed at USD7.31 3/4, down 7 1/2 cents; December KCBT wheat closed at USD7.57 1/2, down 10 3/4 cents; December MGEX wheat closed at USD7.67 1/4, down 6 cents. Wheat inspections for export were 29.934 million bushels compared to the previous weeks 32.258 million bushels. The USDA crop progress report showed spring wheat harvested at 87%, up 4 points from last week and still well behind average. Winter wheat planted was at 18% done, down 4 points from last year. Frost in Canada and North Dakota over the weekend looks likely to have caused some crop damage.