Firm Futures, Slow Cash

CHICAGO - Dec 1/06 - SNS -- Agriculture commodity markets are finishing thee week on a relatively firm note in futures markets, while business in cash markets was a little slower than earlier in the week.

The USDA reports weekly export sales of U.S. wheat were 547,800 metric tons (MT), which was above trade expectations. Cumulative sales have reached 60.7% of the USDA forecast as compared to 63.2% on average over the last five years. Sales of 354,900 MT per week are needed to reach the USDA estimate, note analysts at the Chicago Board of Trade (CBOT).

Weekly corn export sales were 1.083 million MT as, which was above trade expectations. Cumulative sales have reached 45.0% of the USDA forecast as compared to 38.6% on average over the last five years. Sales of 762,200 MT per week are needed to reach the USDA estimate.

Weekly US export sales for soybeans came in at 789,400 MT, which was towards the upper end of trade expectations, say CBOT analysts. Cumulative sales have reached 52.1% of the USDA forecast as compared to 58.4% on average over the last five years.

Meal sales came in at 214,200 MT, which was also above trade expectations. Sales of 108,300 MT per week are needed to reach the USDA estimate. Oil sales were 31,500 MT, which was within trade expectations. Cumulative sales have reached 28.5% of the USDA forecast as compared to 23.4% on average over the last five years.

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