CBOT Close

Posted by Nogger - a legend in his own mind at 23:22 | Categorized as

20/12/10 -- Soybeans

Jan 11 soybeans closed at USD13.15 1/4, up 16 1/2 cents' Jam soybean meal closed at USD351.50, up USD3.70; Jan 11 soybean pil closed at 54.98, up 85 points. Weekly export inspections of 44.6 million bushels were considered supportive this morning, more than 10 million larger than the same week a year ago. The outlook for Argentina is for the most part hot and dry.

Corn

Mar 11 corn closed at USD5.99 1/2, up 3 cents; May 11 corn closed at USD6.07, up 2 3/4 cents. Corn finished at its highest closing price since July 2008. Export inspections today of only 27.02 million bushels were disappointing fron a bullish perspective. The projected weekly average needs to be around 38.0 million bushels to meer current USDA projections,

Wheat

Mar 11 CBOT wheat closed at USD7.69 1/2, up 12 3/4 cents: Mar 11 KCBT wheat closed at USD8.26, up 14 1/4 cents: Mar 11 MGEX wheat closed at USD9 1/2, up 17 1/2 cents. Again better quality wheat gained relative to CBOT grain. China say that they have ordered local millers to cap flour prices, which may restrict local wheat levels.