CBOT Closing Comments
Soybeans
January soybeans ended 13 cents higher at USD10.47, December soymeal ended USD4.20 higher at USD321.50, and December soyoil finished unchanged at 39.75 cents per pound. Weekly export sales were pretty reasonable once again, although slightly below the levels that we've been used to at 722,600 MT, shipments themselves were also robust at 1,363,700 MT, with China again figuring prominently.
Corn
December corn ended down 6 1/2 cents at USD3.85 1/4 per bushel, and March corn ended 5 3/4 cents lower at USD4.00 3/4 per bushel. Weekly export sales of 659,000 MT were in line with forecasts of 400-900,000 MT. A weak dollar and firm outside markets were supportive, as too was talk that the US harvest continues to lag and that some soggy fields will be left until the spring.
Wheat
March wheat finished down 4 1/2 cents at USD5.71 1/2 a bushel. Kansas City Board of Trade March wheat fell 3 1/2 cents to USD5.62, and Minneapolis Grain Exchange March wheat dropped 3 cents to end at USD5.77 1/4. Weekly export sales of 390,700 MT were in line with forecasts of 300-500,000 MT. Egypt once again passed on US wheat in it's tender buying Russian and German wheat.
January soybeans ended 13 cents higher at USD10.47, December soymeal ended USD4.20 higher at USD321.50, and December soyoil finished unchanged at 39.75 cents per pound. Weekly export sales were pretty reasonable once again, although slightly below the levels that we've been used to at 722,600 MT, shipments themselves were also robust at 1,363,700 MT, with China again figuring prominently.
Corn
December corn ended down 6 1/2 cents at USD3.85 1/4 per bushel, and March corn ended 5 3/4 cents lower at USD4.00 3/4 per bushel. Weekly export sales of 659,000 MT were in line with forecasts of 400-900,000 MT. A weak dollar and firm outside markets were supportive, as too was talk that the US harvest continues to lag and that some soggy fields will be left until the spring.
Wheat
March wheat finished down 4 1/2 cents at USD5.71 1/2 a bushel. Kansas City Board of Trade March wheat fell 3 1/2 cents to USD5.62, and Minneapolis Grain Exchange March wheat dropped 3 cents to end at USD5.77 1/4. Weekly export sales of 390,700 MT were in line with forecasts of 300-500,000 MT. Egypt once again passed on US wheat in it's tender buying Russian and German wheat.