CBOT Close

Posted by Nogger - a legend in his own mind at 23:49 | Categorized as

22/11/10 -- Soybeans

Jan 11 soybeans closed at USD12.21 1/2, up 20 cents; Dec 10 soybean meal closed at USD333.60, up USD7.80; Dec 10 soybean oil closed at 49.18, up 22 points. The extreme southern Brazilian and north eastern Argentine soybean areas are forecast to remain dry for the week ahead. Weekly export inspections were light at 42.763 million bushels compared to trade expectations. CBOT markets are closed Wednesday night and Thursday with an early noon close on Friday due to Thanksgiving.

Corn

Dec 10 corn closed at USD5.15 1/4, down 5 1/2 cents; Mar 11 corn closed at USD5.29 1/4, down 5 1/2 cents. The USDA export inspections report showed 24.406 million bushels inspected for export for the week ending 18/11, below the low end of the trades expectations. Funds were said to have sold an additional 15,000 contracts on the day. Crude was lower as were ethanol futures. Argentina now has an estimated 72% of the corn crop planted.

Wheat

Dec 10 CBOT wheat closed at USD6.45 1/2, up 1 cent; Dec 10 KCBT wheat closed at USD7.12 1/2, up 3 cents; Dec 10 MGEX wheat closed at USD7.30, up 4 1/4 cents. The USDA export inspections report showed 13.785 million bushels inspected for export for the week ending 18/11, well below the trade estimates of 17.0 to 20.0 million bushels. The USDA announced the sale of two cargoes of US SWW wheat sold to Egypt, reaffirming the notion that US wheat is cheaper than anything else around at the moment.