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Posted by Nogger - a legend in his own mind at 00:30 | Categorized as

29/11/10 -- Soybeans

Jan 11 soybeans closed at USD12.35, down 3 1/2 cents; Dec 10 soybean ,eal closed at USD336.30, down USD0.50; Dec 10 soybean oil closed at 49.87, down 3 points. The USDA export inspections report showed 48.948 million bushels inspected for export for the week ending 25/11 up 6.185 million from last week. A firm US dollar and some weekend rains in South America were negative, although traders were divided on the extent and likely benefit of the latter.

Corn

Dec 10 corn closed unchanged at USD5.38 1/4; Mar 11 corn closed at USD5.53 1/4, up 1/4 cent. The USDA export inspections showed 23.877 million bushels inspected for export for the week ending 25/11, a net of 529K bushels less than last week. Outside market influences were mixed with the dollar higher and the energy markets also higher. The USDA announced the sale of 120,000 MT of US corn to Mexico. Russia are said to be in the market to import grain, and specifically corn, from a variety of sources according to unconfirmed trade reports.

Wheat

Dec 10 CBOT wheat closed at USD6.50 1/4, up 2 cents; Dec 10 KCBT wheat closed at USD7.26 1/2, up 5 3/4 cents; Dec 10 MGEX wheat closed at USD7.36 1/2, up 2 1/2 cents. The USDA export inspections report showed 20.818 million bushels inspected for export for the week ending 25/11, a net of 7.033 million bushels more than last week. Wheat continues to gain on dryness in the southern plains and wet conditions in eastern Australia. The USDA crop progress report showed winter wheat emerged was 94%, up 3 points from last week and 2 points ahead of average. Conditions were 47% good/excellent, unchanged from last week but a whopping 16 points below last year.