CBOT Closing Comments
Soybeans
July soybeans closed at USD9.43 1/2, up 12 1/2 cents; July soybean meal closed at USD285.50, up USD8.70; July soybean oil closed at 36.75, up 8 points. Private exporters announced the sale of 240,000 MT of beans for 2010/11 delivery to China and 40,000 MT of soybean oil for delivery to them in 2009/10. The USDA release their latest S&D and stocks data estimates tomorrow. They also report on weekly export sales. Estimates range from 100-500,000 MT for soybeans.
Corn
July corn closed at USD3.38 1/4, up 1 cent; Dec corn closed at USD3.58 1/2, up 2 cents. Trade estimates average 1.724 billion bushels for the 2009/10 corn carryout and 1.831 for the 2010/11 carryout. Trade estimates for tomorrow's weekly export sales report range from 300-800,000 MT. A lower dollar and firmer crude oil also helped corn today.
Wheat
July CBOT wheat closed at USD4.28, down 4 ¼ cents; July KCBT wheat closed at USD4.58, down 4 cents; July MGEX wheat closed at USD4.86 1/4, down 3 1/4 cents. The USDA report tomorrow on stocks and production. The average trade estimate for the 2009/10 wheat carryout is 947 million bushels. Winter wheat production is estimated to come in at 1.453 billion bushels. Trade guesses for tomorrow's weekly export sales report range from 150-350,000 MT.
July soybeans closed at USD9.43 1/2, up 12 1/2 cents; July soybean meal closed at USD285.50, up USD8.70; July soybean oil closed at 36.75, up 8 points. Private exporters announced the sale of 240,000 MT of beans for 2010/11 delivery to China and 40,000 MT of soybean oil for delivery to them in 2009/10. The USDA release their latest S&D and stocks data estimates tomorrow. They also report on weekly export sales. Estimates range from 100-500,000 MT for soybeans.
Corn
July corn closed at USD3.38 1/4, up 1 cent; Dec corn closed at USD3.58 1/2, up 2 cents. Trade estimates average 1.724 billion bushels for the 2009/10 corn carryout and 1.831 for the 2010/11 carryout. Trade estimates for tomorrow's weekly export sales report range from 300-800,000 MT. A lower dollar and firmer crude oil also helped corn today.
Wheat
July CBOT wheat closed at USD4.28, down 4 ¼ cents; July KCBT wheat closed at USD4.58, down 4 cents; July MGEX wheat closed at USD4.86 1/4, down 3 1/4 cents. The USDA report tomorrow on stocks and production. The average trade estimate for the 2009/10 wheat carryout is 947 million bushels. Winter wheat production is estimated to come in at 1.453 billion bushels. Trade guesses for tomorrow's weekly export sales report range from 150-350,000 MT.