CBOT Close

26/10/10 -- Soybeans

Nov 10 Soybeans closed at USD12.19, up 1 1/4 cents : Dec 10 soybean meal closed at USD335.50, up USD0.90 Dec 10 soybean oil closed at 49.53, up 6 points. Brazil was 25% sold on its 2010/11 crop as of Friday, up 2 points from last week and 8 from last year. The market was seemingly disappointed that China didn't show up as a buyer under the USDA's daily reporting system, for the first time in six sessions.


Dec 10 Corn closed at USD5.71, up 2 1/4 cents; Mar 11 Corn closed at USD5.84, up 2 1/2 cents; May 11 Corn closed at USD5.90, up 2 3/4 cents. The big action for corn was in the back months like Mar ‘12 which saw 6 1/4 cent gains. Ethanol is trading 1.3 cents higher at $2.271/gallon. Reports suggest that Russia is so short of feed grains it might be looking to "swap" milling wheat for Ukraine corn.


Dec 10 CBOT wheat closed at USD6.92, up 18 cents; Dec 10 KCBT wheat closed at USD7.38 1/2, up 16 3/4 cents; Dec 10 MGEX Wheat closed at USD.45 3/4, up 13 1/4 cents. Below normal precipitation is expected this next week on top of already dry conditions for most winter wheat areas. Export inspections for wheat were in line with expectations at 21,517 million bushels.