CBOT Close
29/06/11 -- Soybeans: Jul 11 soybeans closed at USD13.34 1/4, up 3 1/2 cents; Nov 11 soybeans closed at USD13.23, up 4 cents; Jul 11 soybean Meal closed at USD337.90, down USD1.00; Jul 11 soybean oil closed at 55.83, up 49 points. Soybeans managed to close a choppy session bit higher, although well below the highs set early in the day. Greece got it's austerity vote, but traders seemed to lack the enthusiasm to establish significant fresh longs ahead of tomorrow's USDA reports. Funds did however buy an estimated 2,000 soybean contracts on the day. Trade estimates for tomorrow's weekly export sales report range from 200 to 400 thousand MT.Corn: Jul 11 corn closed at USD6.98, up 15 cents; Dec 11 corn closed at USD6.50 1/2, down 2 1/2 cents. Futures finished well off early session highs ahead of tomorrow's USDA data. Funds did however get credited with buying an estmated 6,000 contracts on the day. The USDA are estimated to come out with a planted area figure of 90.77 million acres tomorrow, with quarterly stocks seen at 3.3 billion bushels. Estimates for tomorrow’s export sales range from 650 to 950 thousand MT.
Wheat: Jul 11 CBOT wheat closed at USD6.41 1/4, up 1 cent; Jul 11 KCBT wheat closed at USD7.45, up 1 1/4 cents; Jul 11 MGEX wheat closed at USD8.76, up 37 cents. Concerns over spring plantings in North Dakota and across the border in Canada saw Minneapolis wheat close sharply higher. For CBOT and Kansas wheat however it was a different story. The USDA today announced the sale of 120,000 MT of SRW wheat to unknown. Weekly export sales estimates for tomorrow range from 550,000 to 750,000 MT.
