Chicago Agriculture Commodities Finish Lower

Posted by: : Paul EbelingPosted on: February 10, 2015 Chicago Agriculture Commodities Finish Lower
 

Chicago Agriculture Commodities Finish Lower

$WEAT, $CORN, $SOYB

Chicago Board of Trade agriculture commodities closed lower Tuesday with Corn, Wheat and Soybean falling on stronger USD and lower Crude Oil prices.

The most active Corn contract for Mar delivery fell 3.25 cents, or 0.83%, to close at 3.88 bu.

Soybean for Mar delivery dropped 9.5 cents, or 0.97%, to 9.69 bu.

Wheat for Mar delivery lost 8 cents, or 1.51%, to 5.2175 bu.

Firmer .DXY, weaker Crude Oil prices, and favorable weather conditions put pressure on the 3 major agriculture commodities, offsetting the support of a US Department of Agriculture (USDA) February crop report showing increasing demand for US Soybeans and for the US Ethanol Corn grind.

However, analysts believed that US grain and Soybean would decrease as the South American harvest begins and demand for US grain and Soybean falls.

Participants are waiting for the USDA Outlook Forum’s 2015/ 2016 balance sheets to gauge long term price trends. Analysts said that a rise in net production is expected in South America, while US Corn and Soybean use could be lifted 10 to 25-M bu.

No change is expected in the US Wheat balance sheet.

The South American weather forecast calls for steady light showers across the whole of Brazil through the next 10 days. This will favor agriculture areas in Brazil.

Agriculture Commodity Prices

Commodity Units Price Change % Change Contract Time(EST)
CBOT Corn USd/bu. 388.00 -3.25 -0.83% Mar 15 14:15:00
CBOT Wheat USd/bu. 521.75 -8.00 -1.51% Mar 15 14:25:10
CBOT Oats USd/bu. 275.00 -4.50 -1.61% May 15 14:15:00
CBOT Rough Rice USD/cwt 10.24 -0.20 -1.92% Mar 15 14:15:00
CBOT Soybeans USd/bu. 969.00 -9.50 -0.97% Mar 15 14:15:00
CBOT Soybean Meal USD/st 326.90 -2.70 -0.82% Mar 15 14:15:00
CBOT Soybean Oil USd/lb. 31.45 -0.56 -1.75% Mar 15 14:35:03
ICE Canola CAD/mt 457.60 -2.10 -0.46% Mar 15 14:14:56
Commodity Units Price Change % Change Contract Time(EST)
ICE Cocoa USD/mt 2,868.00 +2.00 +0.07% May 15 13:29:58
ICE Coffee “C” USd/lb. 159.40 -8.20 -4.89% May 15 13:29:59
ICE Sugar #11 USd/lb. 14.69 -0.10 -0.68% May 15 12:59:58
ICE Orange Juice Conc USd/lb. 135.85 -4.85 -3.45% Mar 15 14:00:00
ICE Cotton #2 USd/lb. 62.51 +0.21 +0.34% May 15 14:26:26
SFE Greasy Wool cents/kg - - -% Feb 15
CME Lumber USD/tbf 317.00 -0.80 -0.25% Mar 15 18:22:20
TOCOM Rubber JPY/kg 212.20 -0.20 -0.09% Jul 15 04:59:55
CME Ethanol USD/gal. 1.46 +0.01 +0.41% Mar 15 15:51:14
Commodity Units Price Change % Change Contract Time(EST)
CME Live Cattle USd/lb. 153.78 0.00 0.00% Apr 15 16:59:56
CME Feeder Cattle USd/lb. 202.03 0.00 0.00% Mar 15 17:00:00
CME Lean Hogs USd/lb. 66.58 -0.18 -0.26% Apr 15 17:00:00

Agriculture commodities trade on different exchanges with different trading sessions, change always shows from the prior closing price.

Stay tuned…

HeffX-LTN

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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