Chicago Close

Corn: May 11 corn closed at USD6.16 1/2, down 19 1/2 cents; Dec 11 corn closed at USD5.49 1/4, up 1 1/4 cents. Estimates for tomorrow's weekly export sales report range from 550 to 750 thousand MT. Funds sold an estimated 28,000 old crop contracts today, a large amount bringing sales this month to a supposed 180,000 lots. Allendale peg this year's US corn acreage at 91.29m acres, a bit below the USDA's 92m estimated last month.
Wheat: May 11 CBOT wheat closed at USD6.62, down 5 3/4 cents; May 11 KCBT wheat closed at USD7.78 1/4, up 1 1/4 cents; May 11 MGEX wheat closed at USD8.06, down 1 1/2 cents. Estimates for tomorrow's weekly export sales report range from 400 to 600 thousand MT. Allendale peg the 2010/11 US wheat acreage at 57.435 million acres.