Market close report for 01-06-10

Corn
Corn futures finished the day closing at the highest level
since last June. Cash movement did take place in some areas
with bids firmer around the country. Export sales are
expected to slow seasonally with trade guesses between 450
and 650 thousand MT. March corn futures at $4.21 ¾, up 3
cents, May corn futures at $4.32, up 3 cents

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Soybeans
Soybeans closed slightly lower as well as the products.
Reports of the beginning of the Brazilian bean harvest to
the north with good yields put a damper on prices. Cash bids
were firm however. Trades are estimating tomorrow\'s export
sales between 600 and 850 thousand MT. China is rumored to
be backing out of some existing bean purchases or deferring
them. January soybean futures are at $10.50 1/2, down 1 ¾
cents, January soymeal futures are at $317.90, down 1.50
points, January soy oil futures are at $40.67 cents, down 4
points

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Wheat
Wheat futures were sharply higher but the cash did not
follow in all areas. Frigid temperatures all the way to the
gulf are threatening winter wheat not under snow. Export
sales estimates range from 250,000 to 450,000 MT. March CBOT
wheat futures are at $5.67 1/4,up 14 1/4 cents, March KCBT
wheat futures are at $5.60 1/2, up 13 3/4 cents, March MGEX
wheat futures are at $5.71 1/2, up 15 1/4 cents

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Cattle
Cattle futures finished slightly lower along with Feeder
cattle. Boxed beef prices were mixed this afternoon with
Choice beef at $139.45, up 0.11 and Select at $134.08, down
0.06. There were no reported sales but bids were $83 to $84
and offers were $86 to $87. February live cattle futures are
at $85.90, down 37 cents, April live cattle futures are at
$89.65, down 10 cents, January feeder cattle futures are at
$96.30, down 25 cents

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Hogs
Lean Hogs ended sharply lower as packers see a warm up
coming next week that would allow more hog movement. Pork
trading was slow to moderate with light to moderate demand
and offerings. Pork cuts were mostly higher, with Carcass
prices at $69.12, up 1.10, Loins at $87.26, up 1.59, Butts
at $59.53, down 0.39 Picnics at $46.13, down 0.77, Ribs at
$112.63, up 0.67, Hams at $62.01, up 2.53 and Bellies at
$81.73, up 1.05. February lean hog futures are at $67.57,
down 102 cents, April lean hog futures are at $70.50, down
52 cents

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Cotton
Cotton prices rallied slightly after yesterday\'s near limit
down move. Fund buying was considered as the main impetus
along with the lower dollar. Tomorrow\'s weekly export sales
are expected to range between 175,000 and 250,000 RB. Gold
was sharply higher today closing at 1137.80, up $17.80.
March cotton futures are at 73.55 cents, up 43 points, May
cotton futures are at 74.73 cents, up 43 points