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Posted by Nogger - a legend in his own mind at 23:06 | Categorized as

21/01/11 -- Soybeans

Mar 11 soybeans closed at USD14.12 1/4, down 2 cents; Nov 11 soybeans closed at USD13.48 1/4, up 6 1/2 cents; Mar 11 soybean meal closed at USD379.60, down USD5.70; Mar 11 soybean oil closed at 57.56, up 30 points. Weekly export sales were a combined old crop and new crop total of 915,400 MT, somewhat better than the 400 to 750 thousand MT anticipated. Rain relief is coming to Southern Brazil from the same weather system that drenched Argentina, say Martell Crop Projections.

Corn

Mar 11 corn closed at USD6.57 1/4, up 3 1/4 cents; Dec 11 corn closed at USD5.87 1/4, up 11 1/4 cents. News just out today was that the EPA have said that they will extend permission to include E15 in vehicles made for the 2001 model year and later. Corn exports were above expectations at 904,800 MT for 2010/11 delivery and 125,000 MT for 2011/12, above combined estimates for sales of 500 and 900 thousand MT.

Wheat

Mar 11 CBOT wheat closed at USD8.24 1/2, up 21 cents; Mar 11 KCBT wheat closed at USD9.00, up 13 3/4 cents; Mar 11 MGEX Wheat closed at USD9.37 1/4, up 17 1/4 cents. Weekly export sales for the week ending January 13 were 1,054,300 MT for 2010/11 delivery and 93,500 MT for 2011/12 delivery, against expectations for combined sales of a rather wide 200 to 950 thousand MT. The USDA also announced private sales of 150,000 MT of wheat for delivery to Jordan today.