Chicago Agricultural Commodities Finish Mixed

Posted by: : Paul EbelingPosted on: September 2, 2014 Chicago Agricultural Commodities Finish Mixed

Chicago Agricultural Commodities Finish Mixed

Chicago agricultural commodities closed mixed Tuesday with Corn and Wheat rising, and Soybean falling.

The most active Corn contract for Dec delivery fell 1 cent, or 0.27%, to close at 3.6375 bu.

Nov Soybean rose 7.75 cents, or 0.76%, to close at 10. 32 bu.

Sept Wheat fell 8.5 cents, or 1.51%, to close at 5.55 bu.

Analysts said the grains were weaker ahead of the World Agricultural Supply and Demand Estimates (WASDE) report for September, while Soybean gained in double digits largely on the heels of surging Soybean Meal Corn trade has been inactive. Analysts also believed that record large US harvests are ahead.

Weekly US export inspections for the week ending 28 August included Corn exports of 34.4-M bu, Soybean exports of 1.4-M bu. and Wheat exports of 28.4-M bu. Wheat exports were better than expected, Corn and Soybeanwere seasonally slow.

Weather forecast is mixed with cool and hot weather battle for Midwest position over the next 2 wks. There is no indication of a premature end of the growing season while near to above average rain helps the Midwest Soybean crop.

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Paul Ebeling

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.

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