CBOT Close
15/10/10 -- Soybeans
Nov soybeans closed at USD11.85, down 3 1/2 cents; Dec soybean meal closed at USD328.20, down USD3.50; Dec soybean oil closed at 47.77, down 25 points. Today’s CFTC report showed Managed Money increased their net long by 7500 contracts, and that Index Funds increased their net longs by about 4,000 contracts this past week. Weekly export sales were in line with expectations at 1,109,195 MT. Additional sales of 278,803 MT to unknown and 240,000 MT to China were reported by private exporters today.
Corn
Dec corn closed at USD5.63, down 4 1/4 cents; Mar corn closed at USD5.75, down 3 1/2 cents. Weekly export sales were below expectations at a combined 1,180,349 MT for both marketing years. Funds were estimated to have sold approximately 5,000 contracts on the day. Weather forecasts remain positive for harvest potential for the next week in most parts of the Midwest with only limited precipitation predicted.
Wheat
Dec CBOT wheat closed at USD7.04 1/2, up 3 3/4 cents; Dec KCBT wheat closed at USD7.45, up 4 1/2 cents; Dec MGEX wheat closed at USD4, up 4 cents. Weekly export sales were only 377,012 MT, well below trade expectations. Decreases were reported for "unknown" of 134,500 MT and 55,200 MT for Egypt. Given the weakness of the US dollar of late, sales at these levels can be considered pretty disappointing.
Nov soybeans closed at USD11.85, down 3 1/2 cents; Dec soybean meal closed at USD328.20, down USD3.50; Dec soybean oil closed at 47.77, down 25 points. Today’s CFTC report showed Managed Money increased their net long by 7500 contracts, and that Index Funds increased their net longs by about 4,000 contracts this past week. Weekly export sales were in line with expectations at 1,109,195 MT. Additional sales of 278,803 MT to unknown and 240,000 MT to China were reported by private exporters today.
Corn
Dec corn closed at USD5.63, down 4 1/4 cents; Mar corn closed at USD5.75, down 3 1/2 cents. Weekly export sales were below expectations at a combined 1,180,349 MT for both marketing years. Funds were estimated to have sold approximately 5,000 contracts on the day. Weather forecasts remain positive for harvest potential for the next week in most parts of the Midwest with only limited precipitation predicted.
Wheat
Dec CBOT wheat closed at USD7.04 1/2, up 3 3/4 cents; Dec KCBT wheat closed at USD7.45, up 4 1/2 cents; Dec MGEX wheat closed at USD4, up 4 cents. Weekly export sales were only 377,012 MT, well below trade expectations. Decreases were reported for "unknown" of 134,500 MT and 55,200 MT for Egypt. Given the weakness of the US dollar of late, sales at these levels can be considered pretty disappointing.
