Chicago Close


November soybeans closed USD11.06 3/4, up 7 3/4 cents; October soybean meal closed USD302.10, down USD0.40; October soybean oil closed 44.70, up 64 points. The USDA pegged soybean stocks at 151 million, exactly in line with trade estimates. Weekly export sales were substantial at 1,737,600 MT. China took 1,295,200 MT of that.


December corn closed at USD4.95 3/4, down 9 1/4 cents; March corn closed at USD5.08 1/4, down 9 cents. Net weekly export sales of 925,900 MT were up 65 percent from the previous week and beat expectations for sales of 650-850 TMT. The USDA's quarterly stocks report pegged September 1st corn stocks at 1.708 billion bushels, well above trade expectations of 1.407 billion.


December CBOT wheat closed USD6.74, down 9 1/2 cents; December KCBT wheat closed USD7.07 3/4, down 9 1/4 cents; December MGEX wheat closed USD7.21, down 3 cents. Export sales came in at 630,800 MT for the 2010/11 marketing year. Egypt took 123,900 MT of that. Expectations were for sales of 650-850 TMT. The USDA reported 2.46 billion bushels of wheat stocks, slightly above expectations of 2.44 billion bushels.