US MIDDAY: corn, wheat and soya down

15 Jan, 2010

Chicago Board of Trade grains and soy complex preopening calls at 8:13 am CST (1413 GMT) on Thursday. January contracts to expire at noon CST (1800 GMT) Thursday. Wheat down 3 to 5 cents per bushel. Spillover pressure from the release early this week of bearish US and global wheat stocks data by the USDA.
Firm dollar and slow US exports of wheat continue to weigh on wheat market. CBOT March wheat last down 4 cents in Globex trade at $5.33 per bushel. Volume 3,861. Corn down 3 to 5 cents per bushel. Slow exports of US corn and corn futures remain under pressure from the release early this week of bearish production and stocks data from the USDA. Firm dollar also adding pressure.
Daily trading limit reverts back to 30 cents per bushel on Thursday. March corn last down 4-3/4 cents per bushel in Globex trade at $3.79-1/4 per bushel. Volume 8,876. USDA said 327,300 tonnes of US corn sold for export last week, below estimates for 350,000 to 650 tonnes. Soyabeans down 2 to 3 cents per bushel. January last down 1/4 cent per bushel in Globex trade at $9.83-1/4 per bushel. Volume 10.
March last down 2-1/2 at $9.90. Volume 6,058. USDA said 357,100 tonnes of US soyameal sold for export last week, above estimates for 100,000 to 175,000 tonnes. South Korea's KFA buys soyameal from Toepfer. No deliveries on January. Soyaoil down 0.20 to 0.30 cent per lb. January last down 0.28 cent in Globex trade at 38.35 cents per lb. Volume 218. March last down 0.27 at 38.74. Volume 3,265. USDA said 50,000 tonnes of US soyaoil sold for export last week, above estimates for 5,000 to 10,000 tonnes.
RICE: Up 5 to 10 cents per cwt. Technical bounce after the sharp decline of prices earlier in the week. January did not trade. March last up 9-1/2 cents per cwt at $14.06. Volume 99. USDA said 192,600 tonnes of rice sold for export last week. Deliveries on January 10 lots.

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