CBOT Closing Comments
Soybeans
November beans finished a volatile session at $9.53, up 2 ½ cents. Lower prices earlier today were attributed to a change in the weather forecast that shows the front coming through next Wednesday. Private exporters informed the USDA of 121,000 MT of soybeans sold to China this morning. Weekly export sales were a combined total of 704,380 MT for the 2009/10 and 2010/11 marketing years. As expected China was the main buyer at 489,000 MT for 2009/10 shipment.
Corn
December corn closed at 3.239 ¼, down 7 ¼ cents. A much more benign weather forecast got corn on the defensive from the off. A chance of colder temperatures in the Midwest will occur over the weekend of September 25th, forecasters say, although the expected lows have moderated considerably. Export sales for the second week of the marketing year were above expectations 965,587 MT.
Wheat
December wheat closed at $4.61 ¾, down 5 ½ cents. Weekly wheat export sales were 449,400 MT, in the middle of trade estimates. Export shipments were a marketing year high at 595,900 MT, up 32% from the previous week and 39% from the 4 week average. Japan bought 75,000 MT of US wheat in a 117,000 MT tender.
November beans finished a volatile session at $9.53, up 2 ½ cents. Lower prices earlier today were attributed to a change in the weather forecast that shows the front coming through next Wednesday. Private exporters informed the USDA of 121,000 MT of soybeans sold to China this morning. Weekly export sales were a combined total of 704,380 MT for the 2009/10 and 2010/11 marketing years. As expected China was the main buyer at 489,000 MT for 2009/10 shipment.
Corn
December corn closed at 3.239 ¼, down 7 ¼ cents. A much more benign weather forecast got corn on the defensive from the off. A chance of colder temperatures in the Midwest will occur over the weekend of September 25th, forecasters say, although the expected lows have moderated considerably. Export sales for the second week of the marketing year were above expectations 965,587 MT.
Wheat
December wheat closed at $4.61 ¾, down 5 ½ cents. Weekly wheat export sales were 449,400 MT, in the middle of trade estimates. Export shipments were a marketing year high at 595,900 MT, up 32% from the previous week and 39% from the 4 week average. Japan bought 75,000 MT of US wheat in a 117,000 MT tender.