CBOT Close


November soybeans closed at USD10.80, down 4 1/2 cents; October soybean meal closed at USD303.50, down USD2.60; October soybean oil closed at 42.42, down 23 points. China bought 170,000 MT of US soybeans overnight, according to the USDA. The market's concerns over potential frost damage in China over the weekend seem to have been largely allayed.


December corn closed at USD5.05 1/4, down 3 cents; March corn closed at USD5.18, down 3 1/4 cents. Corn and soybean futures were down on the Dalian Exchange overnight on ideas that frost talk had been overdone. The USDA left crop condition ratings unchanged after the close last night with corn 68% good/excellent.


December CBOT wheat closed at USD7.18, down 13 3/4 cents; December KCBT wheat closed at USD7.50, down 7 1/2 cents; December MGEX wheat closed at USD7.57 3/4, down 9 1/2 cents. Winter wheat planting in the US is down from last year and the five year average so far at 18% done. The USDA crop progress report showed spring wheat harvested at 87%, up 4 points from last week abut still well behind average.