Nov09 -11 to 983 ,Jan10 -10.25 to 987.75
Soymeal Dec09 -9.5 to 296.2
Soybean Oil Dec09 + 0.6 to 36.78
- Trader taking profit.
- Improve in harvest weather is pressure on soybean prices. The forecast are drier next week.
- Speculated money flow out from CBOT grain.
- Meal closed sharply lower on the day while oil finished substantially higher in active trade by spreaders and Support from higher crude oil prices.
- Technical support for decline prices is 968 and 950.
- Market need to see a solid export demand in USDA export sales that will release on 16/10/09 in order to support prices.
Dec09 -10 to 373 , Mar10 -10 to 385.
- No supported from fund and speculated money
- Trader expect a significant jump in USDA export sale this week from last week's total of 521,900 tonnes.
- Sing of stability in dollar gave trader reason to take profit.
- Corn prices broke support average 200 day at 370 but close higher in the ended.
- Price decline to corrected overbought in corn.
- But high oil price would support corn demand for ethanol.
Dec09 -8 at 505, July10 -8.25 to 547 1/2.
- Egypt buy 6.6 million bushels of France wheat.
- Trader take profit from lacking follow though buying.
- Technical selling to corrected over bougth.
- fundamental of wheat are bearish on high production and stock.
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