CBOT Mar 18
Last changes
SMK 266.6 -0.4
SMN 269.3 -0.4
SMQ 270.5 -0.5
SMU 271.6 -0.5
SMV 272.3 -0.4
SMZ 274.2 -0.3
SMF7 275.4 -0.1
SK 897.5 -0.25
SN 904.25 +0.25
SQ 906.5 +0.25
SU 906.25 +0
SX 909.75 +0.5
SF7 914 +0.5
BOK 33.42 +0.01
BON 33.65 +0.01
BOQ 33.73 +0.01
CK 367.00 -1.5
CN 371.75 -1.25
WK 463.00 +0.5
WN 470.25 +0.25
The markets opened mostly as called with little going on except light position-evening. May beans
and soyoil continued to hold while grains traded lower on the day led by corn and KC wheat.
Informa numbers were released today with bean acreage at a higher 84 million acres in 2016 (higher
than the Outlook Forum) with corn at 89.5 million and wheat cut by 3 million acres to 51.2 million.
ON this low-volume day the market had little reaction to the numbers.
SOY
The soy complex traded on a mixed note but the firm tone in beans and soyoil did not lose its
feeling all day. LIght profit-taking was noted for the soyoil market as bulls took advantage of the
trend - higher rally all week long. Plus, crude oil futures also broke into the red for the day as
short-covering in that market took a break. July oilshare remained firm at .3850% with crude values
trading from 58/59c/bu. Buy soy / sell corn trade was also a feature. May/July meal spreads remain
weaker trading to a 2.90 carry. IN larger trades of note: Futures Int'l purchased 500 July 8.20 bean puts.
GRAINS
Wheat values were on the defensive today with most of the losses coming from the Kansas city
market. Traders are unwinding previous buy KC/sell CBOT wheat spreads. May wheat traded
just to next support at $4.57 which appeared for the day to hold. May corn broke lower from its
key resistance level at 3.72 with good selling against it as prices worked lower.
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