CBOT Closing Comments
Corn
Dec corn ended down 3 cents, just below the psychologically important USD4/bushel level at USD3.99 3/4 per bushel, and March corn ended 3 cents lower at USD4.14 1/2 per bushel. Private exporters announced sales of 116,000 MT of corn to unknown destinations this morning and 270,000 MT was switched from unknown to South Korea yesterday afternoon. The US Environmental Protection Agency decided to defer a decision on increasing the maximum amount of ethanol blended with gasoline from 10 percent.
Soybeans
Jan soybeans ended 1 cent lower at USD10.59 1/2 a bushel, Dec soymeal ended USD2.10 lower at USD324.70 and Dec soyoil finished 39 points higher at 40.58 cents per pound. Weather conditions in Argentina are improving, although estimates for next season's crop are still widely varied. Rains increase again across Argentina this week, now expected to leave widespread inch totals and two to three inches across key southern areas. Four to six inches will cross northeastern provinces into South Brazil, say QT Weather.
Wheat
CBOT March wheat closed down 4 3/4 cents at USD5.84, KCBT March wheat fell 3 1/2 cents to USD5.71 1/2, and MGE March wheat dropped 3 cents to USD5.84 3/4. Export inspections for November 26th were 399,361 MT, a significant decrease from last week and last year. Japan is in the market for 145,000 MT of wheat, of which 105,000 MT will be pf US origin. The USDA said yesterday that in the SRW wheat state of Illinois planting still lags at 92% versus 100% normally, along with Indiana at 93% (100%) and the worst affected state of Missouri being only 69% planted (95% normally).
Dec corn ended down 3 cents, just below the psychologically important USD4/bushel level at USD3.99 3/4 per bushel, and March corn ended 3 cents lower at USD4.14 1/2 per bushel. Private exporters announced sales of 116,000 MT of corn to unknown destinations this morning and 270,000 MT was switched from unknown to South Korea yesterday afternoon. The US Environmental Protection Agency decided to defer a decision on increasing the maximum amount of ethanol blended with gasoline from 10 percent.
Soybeans
Jan soybeans ended 1 cent lower at USD10.59 1/2 a bushel, Dec soymeal ended USD2.10 lower at USD324.70 and Dec soyoil finished 39 points higher at 40.58 cents per pound. Weather conditions in Argentina are improving, although estimates for next season's crop are still widely varied. Rains increase again across Argentina this week, now expected to leave widespread inch totals and two to three inches across key southern areas. Four to six inches will cross northeastern provinces into South Brazil, say QT Weather.
Wheat
CBOT March wheat closed down 4 3/4 cents at USD5.84, KCBT March wheat fell 3 1/2 cents to USD5.71 1/2, and MGE March wheat dropped 3 cents to USD5.84 3/4. Export inspections for November 26th were 399,361 MT, a significant decrease from last week and last year. Japan is in the market for 145,000 MT of wheat, of which 105,000 MT will be pf US origin. The USDA said yesterday that in the SRW wheat state of Illinois planting still lags at 92% versus 100% normally, along with Indiana at 93% (100%) and the worst affected state of Missouri being only 69% planted (95% normally).