Chicago Agriculture Commodities Finished Higher

Chicago Agriculture Commodities Finished Higher

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished higher Tuesday, with Soybean futures rising more than 1.7% on concerns about dry weather hurting crop prospects in Argentina, despite rains expected in the weekend.

Corn rose on the weather worries and on improving export demand for US supplies, and wheat followed the firm trend.

The most active Corn contract for March delivery rose 4.75c, or 1.32% to close at 3.635 bu.

March Wheat delivery went up 6c, or 1.36% to close at 4.4625 bu.

March Soybean added 16.5c, or 1.7% to close at 9.8625 bu.

CBOT brokers report that funds have bought 3,700 contracts of Soybean, 6,500 contracts of Corn, and 3,200 contracts of Wheat. In Soy products, funds have bought 3,800 contracts of Soymeal and 1,700 contracts of Soybean Oil.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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