Chicago Agriculture Commodities Finished Higher

Posted by: : Paul EbelingPosted on: February 6, 2015 Chicago Agriculture Commodities Finished Higher
 

Chicago Agriculture Commodities Finished Higher

CBOT (Chicago Board of Trade) agriculture commodities closed higher Thursday with Corn, Wheat and Soybean rising.

The most active Corn contract for Mar delivery rose 1.75 cents, or 0.46%, to close at 3.8525 bu.

Soybean for Mar delivery increased 9.25 cents, or 0.95%, to close at 9.8125 bu.

Wheat for Mar delivery added 14.75 cents, or 2.89%, to close at 5.2575 bu.

Analysts said that the supportive of CBOT agriculture commodities was a setback in the USD, coupled with strength in Crude Oil and equity markets. The Buck declined against most major currencies Thursday.

Wheat rose as analysts say there is a possibility for Egypt to purchase up to 6 cargoes of US Wheat. The Egyptian Supplies Minister Khaled Hanafi said Thursday that Egypt has a tender for US Wheat to find best price, and Egypt is a main importer of Wheat.

Additionally, technical buying also boosted Wheat. Analysts noted that CBOT Wheat fell nearly 15% in January, now is due for bounce after this biggest monthly decline in 3 yrs, on ample world supply.

As for Soybean, analysts said it rose as surging Malaysian Palm Oil futures lifted global vegetable oils markets, including CBOT Soyoil. Malaysian palm added more than 5%, its biggest 1-day gainer since October 2010, analysts noted.

The US Department of Agriculture (USDA) reported that for the week ending 29 January that the US sold 14.8-M bu of Wheat, 33.9-M bu of Corn, and 18.0-M bu of Soybeans in MY 2014-2015. Export sales of Corn, Soybean and Wheat were all down from the prior week, analysts noted.

Analysts said that investors will wait for the USDA Outlook Forum’s 2015/2016 balance sheets to gauge long term agriculture commodity price trends.

The weather forecast for South America is favorable as showers and storms will impact Central and Northern Brazil Thursday and the rest of the week. The forecast shows soaking rain will fall across the drought-stricken areas of Minas Gerais and Bahia.

Agriculture Commodity Prices

Commodity Units Price Change % Change Contract Time(EST)
CBOT Corn USd/bu. 385.75 +0.50 +0.13% Mar 15 01:09:50
CBOT Wheat USd/bu. 527.25 +1.50 +0.29% Mar 15 01:05:29
CBOT Oats USd/bu. 290.25 +2.50 +0.87% Mar 15 01:06:47
CBOT Rough Rice USD/cwt 10.62 +0.17 +1.58% Mar 15 01:00:53
CBOT Soybeans USd/bu. 980.75 -0.50 -0.05% Mar 15 01:09:55
CBOT Soybean Meal USD/st 330.80 -0.60 -0.18% Mar 15 00:55:21
CBOT Soybean Oil USd/lb. 31.58 -0.13 -0.41% Mar 15 01:08:26
ICE Canola CAD/mt 458.90 +0.20 +0.04% Mar 15 23:33:53
Commodity Units Price Change % Change Contract Time(EST)
ICE Cocoa USD/mt 2,743.00 +19.00 +0.70% May 15 13:29:57
ICE Coffee “C” USd/lb. 164.75 -0.15 -0.09% Mar 15 13:29:59
ICE Sugar #11 USd/lb. 14.41 -0.04 -0.28% Mar 15 12:59:59
ICE Orange Juice Conc USd/lb. 137.55 -0.35 -0.25% Mar 15 13:59:55
ICE Cotton #2 USd/lb. 61.88 +0.09 +0.15% Mar 15 01:03:41
SFE Greasy Wool cents/kg -% Feb 15
CME Lumber USD/tbf 311.30 -0.60 -0.19% Mar 15 19:58:40
TOCOM Rubber JPY/kg 209.20 +2.80 +1.36% Jul 15 01:09:41
CME Ethanol USD/gal. 1.46 +0.01 +0.62% Mar 15 20:07:19
Commodity Units Price Change % Change Contract Time(EST)
CME Live Cattle USd/lb. 148.03 0.00 0.00% Apr 15 16:59:54
CME Feeder Cattle USd/lb. 195.65 0.00 0.00% Mar 15 16:58:48
CME Lean Hogs USd/lb. 66.28 -1.85 -2.72% Apr 15 16:59:52

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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