CBOT Closing Comments
Soybeans
August soybeans ended 39 1/2 cents higher at $11.73 1/2 a bushel, and November up 48 1/2 cents higher at $10.30 1/2. Continuing tightening of old crop supply due to strong export demand lends supportive tone to the soy complex. Sharply higher crude oil futures and a sharply lower US dollar index provides bullish outside market support. Good crop weather forecasted this week over much of the Midwest gives pressure to futures.
Corn
September corn ended up 18 1/2 cents to $3.58 per bushel, and December corn ended up 19 1/2 cents to $3.69. harply higher crude oil futures and a sharply lower US dollar index lends outside market bullish support to futures. Continuing good crop weather forecasted this week over much of the Corn Belt weighs on futures, limiting some gains. Weekly export inspections for corn came in at 47.336 million bushels, which fell above trade estimates.
Wheat
September wheat closed up 21 cents at $5.49 1/4, sharply lower US dollar index and spillover rally in corn and the soy complex lend support to futures. Weekly export inspections for wheat came in at 13.548 million bushels, which fell within trade estimates.
August soybeans ended 39 1/2 cents higher at $11.73 1/2 a bushel, and November up 48 1/2 cents higher at $10.30 1/2. Continuing tightening of old crop supply due to strong export demand lends supportive tone to the soy complex. Sharply higher crude oil futures and a sharply lower US dollar index provides bullish outside market support. Good crop weather forecasted this week over much of the Midwest gives pressure to futures.
Corn
September corn ended up 18 1/2 cents to $3.58 per bushel, and December corn ended up 19 1/2 cents to $3.69. harply higher crude oil futures and a sharply lower US dollar index lends outside market bullish support to futures. Continuing good crop weather forecasted this week over much of the Corn Belt weighs on futures, limiting some gains. Weekly export inspections for corn came in at 47.336 million bushels, which fell above trade estimates.
Wheat
September wheat closed up 21 cents at $5.49 1/4, sharply lower US dollar index and spillover rally in corn and the soy complex lend support to futures. Weekly export inspections for wheat came in at 13.548 million bushels, which fell within trade estimates.