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COMMERCIAL SALES
The Harvest

July 29, 2010

According to the U.S. Department of Agriculture's weekly Export Sales Report, total known outstanding sales and accumulated exports of all classes of wheat for the 2010/11 marketing year, through July 22, 2010 were 8.397 million metric tons (MMT), 34 percent greater than last year's year-to-date total of 6.289 MMT.

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PRICE REPORT

July 23, 2010

Adverse weather continues to be the driving factor in wheat prices. Futures fell early in the week because of profit taking following last week’s rally, but continued concerns over EU and Black Sea production pushed prices higher once again. CBOT nearbys reached their highest level since June 2009 on Thursday and gained 9 cents on the week, to $5.96/bu. KCBT nearbys were up 16 cents, to $6.15/bu, while MGEX nearbys closed at $6.28/bu, a 17-cent gain from a week ago. Corn prices fell this week due to favorable weather and steady crop conditions. CBOT corn was down 23 cents, closing at $3.71/bu. Soybeans lost 2 cents on the week, closing at $10.17/bu.

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