CBOT Close
17/05/11 -- Soybeans: Jul 11 soybeans closed at USD13.41, up 14 1/2 cents; Jul 11 soybean meal closed at USD350.40, up USD4.70; Jul 11 soybean oil closed at 56.04, up 13 points. Beans got dragged higher by corn and wheat despite reports of 6 MMT of soybeans sat at the quayside in China awaiting a home.Corn: Jul 11 corn closed at USD7.20 1/4, up 22 3/4 cents; Dec 11 corn closed at USD6.53 1/4, up 17 3/4 cents. Slow planting in certain states remains the major news. Ohio is only 7% done compared with 70% normally. "Strong warming will return to the Midwest May 20-23, but this will be accompanied by stormy conditions and heavy rain potential," sat Martell Crop Projections.
Wheat: Jul 11 CBOT wheat closed at USD7.64, up 27 1/2 cents; Jul 11 KCBT wheat closed at USD8.94 1/2, up 18 1/2 cents; Jul 11 MGEX wheat closed at USD9.36 1/4, up 26 cents. Spring grain plantings in Russia and Ukraine seem to have caught up after a slow start. Ukraine in particular look nailed on for a decent harvest this season.