Chicago Close

14/12/10 -- Soybeans

Jan 11 soybeans closed at USD12.96, down 6 1/2 cents; Dec 10 soybean meal closed at USD344.50, down USD0.30; Dec 10 soybean oil closed at 54.80, down 30 points. Dec contracts expired today. Argentine weather is seen improving, but is far from out of the woods yet. In the US, yesterday's November NOPA soybean crush was disappointing at 148.9 million bushels.


Dec 10 corn closed at USD5.74 1/2, down 3/4 cent; Mar 11 corn closed at USD5.87 1/4, down 1 1/4 cents. Fresh news was limited, profit-taking was probably the order of the day. Mexico said that it would have a crop of 24.2 MMT this year, some 20% up on last season, curtailing import requirements from the US. Some production concerns remain for Argentina however.


Dec 10 CBOT wheat closed at USD7.21, down 19 1/4 cents; Dec 10 KCBT wheat closed at USD7.98 1/2, down 27 1/4 cents; Dec 10 MGEX wheat closed at USD8.31 1/4, down 27 1/2 cents. Drier weather forecasts for eastern Australia clawed back some of the differential between CBOT and higher grade MGEX wheat. Egypt is tendering for 55-60.000 MT of HRW and SRW wheat for last half February shipment.