CBOT Close
Soybeans
September soybeans closed at USD10.37 3/4, down 3 1/2 cents; September soybean meal closed at USD305.50, down USD1.80; September soybean oil closed at 41.08, down 8 points. The USDA announced another 60,000 MT of new crop Chinese soyoil purchase. On the 2010 production side the trade is expecting the USDA to peg US soybeans output at 3.406 billion bushels tomorrow (Aug USDA 3.433), with yields at 43.8 bu/acre. Export sales reported tomorrow morning are estimated at 600 – 800 TMT, up from 613 TMT last week.
Corn
September corn closed at USD4.56 1/4, up 8 3/4 cents; December corn closed at USD4.70 3/4, up 8 1/4 cents. On the 2010 production side the trade is expecting US corn output at 13.199 billion (Aug USDA 13.365) with yields of 163.1 bu/acre. Old crop corn end stocks are estimated at 1.412 billion bu versus the August USDA figure of 1.426 billion. New crop corn is expected at 1.125 billion compared to the August USDA number of 1.312 billion. Export sales reported tomorrow morning are estimated at 900 TMT – 1.1 MMT, down from last weeks 1.658 MMT.
Wheat
Sept CBOT wheat closed at USD7.06 3/4, up 28 cents; Sept KCBT wheat closed at USD7.47 1/4, up 27 1/4 cents; Sept MGEX wheat closed at USD7.42 1/2, up 24 1/4 cents. Wheat 2010/11 end stocks are seen falling to 877 million vs August's USDA estimate of 952 million. For wheat in particular global production and ending stocks numbers will also be scrutinised. USDA Export sales reported tomorrow morning are estimated at 800 TMT – 1 MMT, down from last weeks 1.024 MMT. The USDA announced the sale of 220,000 MT of wheat today to "unknown".
September soybeans closed at USD10.37 3/4, down 3 1/2 cents; September soybean meal closed at USD305.50, down USD1.80; September soybean oil closed at 41.08, down 8 points. The USDA announced another 60,000 MT of new crop Chinese soyoil purchase. On the 2010 production side the trade is expecting the USDA to peg US soybeans output at 3.406 billion bushels tomorrow (Aug USDA 3.433), with yields at 43.8 bu/acre. Export sales reported tomorrow morning are estimated at 600 – 800 TMT, up from 613 TMT last week.
Corn
September corn closed at USD4.56 1/4, up 8 3/4 cents; December corn closed at USD4.70 3/4, up 8 1/4 cents. On the 2010 production side the trade is expecting US corn output at 13.199 billion (Aug USDA 13.365) with yields of 163.1 bu/acre. Old crop corn end stocks are estimated at 1.412 billion bu versus the August USDA figure of 1.426 billion. New crop corn is expected at 1.125 billion compared to the August USDA number of 1.312 billion. Export sales reported tomorrow morning are estimated at 900 TMT – 1.1 MMT, down from last weeks 1.658 MMT.
Wheat
Sept CBOT wheat closed at USD7.06 3/4, up 28 cents; Sept KCBT wheat closed at USD7.47 1/4, up 27 1/4 cents; Sept MGEX wheat closed at USD7.42 1/2, up 24 1/4 cents. Wheat 2010/11 end stocks are seen falling to 877 million vs August's USDA estimate of 952 million. For wheat in particular global production and ending stocks numbers will also be scrutinised. USDA Export sales reported tomorrow morning are estimated at 800 TMT – 1 MMT, down from last weeks 1.024 MMT. The USDA announced the sale of 220,000 MT of wheat today to "unknown".
