Chicago Closing Comments
Soybeans
January soybean futures closed at USD10.52 ¼, up 2 ¾ cents, January soymeal futures at USD319.40, up USD3.40, January soyoil futures at 40.71 cents, down 19 points.
Corn
March corn futures closed at USD4.18 ¾, up ¼ cent and May corn futures ended at USD4.29, also up ¼ cent.
Wheat
March CBOT wheat futures finished at USD5.53, down 4 ¾ cents, March KCBT wheat futures at USD5.46 ¾, down 4 cents, and March MGEX wheat futures at USD5.56 ¼, down 4 ¾ cents.
It was a very lacklustre day, the widely touted fund buying failed to materialise, and instead profit-taking following yesterday's gains was the order of the day. The US weather seems to be supportive to corn, and possibly winter wheat. Chinese buying has helped beans of late, but that may disappear anytime soon.
January soybean futures closed at USD10.52 ¼, up 2 ¾ cents, January soymeal futures at USD319.40, up USD3.40, January soyoil futures at 40.71 cents, down 19 points.
Corn
March corn futures closed at USD4.18 ¾, up ¼ cent and May corn futures ended at USD4.29, also up ¼ cent.
Wheat
March CBOT wheat futures finished at USD5.53, down 4 ¾ cents, March KCBT wheat futures at USD5.46 ¾, down 4 cents, and March MGEX wheat futures at USD5.56 ¼, down 4 ¾ cents.
It was a very lacklustre day, the widely touted fund buying failed to materialise, and instead profit-taking following yesterday's gains was the order of the day. The US weather seems to be supportive to corn, and possibly winter wheat. Chinese buying has helped beans of late, but that may disappear anytime soon.