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Corn futures closed the Friday session with most contracts as much as a penny lower. A private export sale of 134,503 MT of corn was sold to Costa Rica as announced by the USDA through their daily export reporting system. The Friday Commitment of Traders report showed spec funds adding to their net short position by 36,673 contracts in the week ending December 12. They were net short 197,192 contracts of futures and options on that date. Informa analysts updated their projection for the 17/18 US corn yield at 176.6 bpa, compared to the USDA estimate of 175.4 bpa. They also lowered their 2018 corn planted acreage estimate to 89.675 million acres, down 1.74 million acres from their November number.Mar 18 Corn closed at $3.47 1/2, down 1 cent,May 18 Corn closed at $3.55 3/4, down 1 cent,Jul 18 Corn closed at $3.64 1/4, down 3/4 centSep 18 Corn closed at $3.71 1/4, down 3/4 cent
Wheat futures were mixed on Friday. MPLS was the strongest, with gains of 2 1/4 to 3 3/4 cents. Most CBT contracts were fractionally on either side of UNCH, with KC contracts steady to 2 cents lower. Private exporters reported a sale of 130,000 MT of SRW wheat to Unknown Destinations for 17/18 delivery, according to the USDA FAS reporting system. Informa updated their 2018 winter wheat acreage number to 31.093 million acres. 0.830 million acres lower than their previous estimate. The CFTC report on Friday afternoon showed the big spec funds adding back to their net short Chicago SRW positions by 38,871 contracts in the week ending 12/12. They were net short 157,652 contracts at that time.Mar 18 CBOT Wheat closed at $4.18 1/4, unch,Mar 18 KCBT Wheat closed at $4.17 1/2, down 3/4 cent,Mar 18 MGEX Wheat closed at $6.20, up 3 cents
Soybean futures settled the day with fractional losses in the front months. January soy meal was down $1/ton, as nearby Jan bean oil 2 points lower. The USDA reported separate export sales of 126,000 MT of soybeans to Unknown Destinations, with 257,000 MT to China. Both sales were for 17/18 delivery. This morning’s NOPA report indicated its members had crushed 163.546 mbu of soybeans during November. That was ahead of most expectations and 1.74% larger than November 2016. Soybean oil stocks were reported at 1.326 billion pounds at the end of November, larger than most estimates and 8.35% above the end of October. US soybean planted acreage for 2018 is expected to hit 91.387 million acres, according to Informa analysts. That is 1.76 million acres larger than their previous estimate.Jan 18 Soybeans closed at $9.67 1/4, down 1/2 cent,Mar 18 Soybeans closed at $9.78, down 3/4 cent,May 18 Soybeans closed at $9.89, down 3/4 cent,Aug 18 Soybeans closed at $10.01, down 1/4 cent,Jan 18 Soybean Meal closed at $320.60, down $1.00,Jan 18 Soybean Oil closed at $33.16, down $0.02