Chicago Agriculture Commodities Finished Higher

Chicago Agriculture Commodities Finished Higher

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished higher Monday as futures posted moderate gains after sharp falls in the prior session.

The most active Corn contract for May delivery rose 0.25c, or 0.06% to settle at 3.9075 bu.

May Wheat delivery went up 1.5c, or 0.31% to close at 4.9075 bu.

May Soybean were up 1.75c, or 0.17% to settle at 10.41 bu.

CBOT floor brokers reported that funds sold 4,600 contracts of Corn, 2,100 contracts of Soybean and 3,200 contracts of Wheat.

Both Wheat and Soybean futures had dropped more than 2% last Friday after the US Department of Agriculture(USDA) raised domestic Wheat and Soybean stockpiles in its monthly crop report.

Wheat continued its downturn Monday morning, but managed to close in the positive territory.

The recent rainfall in Argentina has missed the areas where Soybeans grow and the drought there is reportedly continuing, which offered support to CBOT Soybean futures.

In the US many farmers are  worried that some countries might target US soybean if trade issues can not be solved through bi-lateral talks.

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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