CBOT Close
12/10/10 -- Soybeans
November soybeans closed at USD11.78 1/2, up 26 cents; October soybean meal closed at USD329.40, up USD6.30; October soybean oil closed at 46.54, up 56 points. Beans are now at their highest levels since August 2009. The US harvest is well advanced at 67% done compared to the five year average of 48%, the USDA said tonight. Celeres report Brazilian soybean plantings at 3% complete as of Friday, compared to 7% a year ago.
Corn
December corn closed at USD5.79, up 23 1/4 cents; March corn closed at USD.88 3/4, up 23 3/4 cents. This afternoon’s crop progress report showed corn harvesting at 51% complete, fully 21 points ahead of the five year average. Corn crop condition ratings improved from last week by 2 points to 68% in the good/excellent category.
Wheat
December CBOT wheat closed at USD7.10, up 3/4 cents; December KCBT wheat closed at USD7.51, up 4 1/4 cents; December MGEX wheat closed at USD7.54 1/4, up 4 1/4 cents. This afternoon’s crop progress report showed an increase to 70% of the winter wheat planted, which is above the five year average. Egypt bought 220,000 MT of US hard wheat today, although French wheat was excluded from that particular tender.
November soybeans closed at USD11.78 1/2, up 26 cents; October soybean meal closed at USD329.40, up USD6.30; October soybean oil closed at 46.54, up 56 points. Beans are now at their highest levels since August 2009. The US harvest is well advanced at 67% done compared to the five year average of 48%, the USDA said tonight. Celeres report Brazilian soybean plantings at 3% complete as of Friday, compared to 7% a year ago.
Corn
December corn closed at USD5.79, up 23 1/4 cents; March corn closed at USD.88 3/4, up 23 3/4 cents. This afternoon’s crop progress report showed corn harvesting at 51% complete, fully 21 points ahead of the five year average. Corn crop condition ratings improved from last week by 2 points to 68% in the good/excellent category.
Wheat
December CBOT wheat closed at USD7.10, up 3/4 cents; December KCBT wheat closed at USD7.51, up 4 1/4 cents; December MGEX wheat closed at USD7.54 1/4, up 4 1/4 cents. This afternoon’s crop progress report showed an increase to 70% of the winter wheat planted, which is above the five year average. Egypt bought 220,000 MT of US hard wheat today, although French wheat was excluded from that particular tender.