Chicago Agriculture Commodities Finished Higher Friday

Chicago Agriculture Commodities Finished Higher Friday


Chicago Board of Trade (CBOT) Corn, Wheat and Soybean all finished higher Friday to close the week and month of April.

The most active Corn contract for July delivery added 0.5 cents, or 0.13%, to close at 3.9175 bu.

July Wheat delivery rose 3 cents, or 0.62%, to close at 4.885 bu.

July Soybean gained 2.25 cents, or 0.22%, to close at 10.2975 bu.

Based on the most active contract month, all 3 Chicago major agriculture commodities advanced on the week and on April.

On the week, Corn, Wheat and Soybean advanced 4.33, 3.06 , and 3.36% respectively, for the month of April, Corn, Wheat and Soybean gained 11.45, 3.17 and 13.07% respectively.

The US Department of Agriculture (USDA) said Friday morning that private exporters reported export sales of 100,640 tonnes of Corn for delivery to Japan during MY 2015/2016, analysts noted that Corn extended a little gains Friday on this new export news.

Soybean and Wheat was supported by the larger-than-expected deliveries.

CME group reported 527 1st-day deliveries of Soybean contract against May Thursday evening, while Wheat deliveries was rated at 1,680 contracts, both of the numbers were at the high end of expectations.

Additionally, technical support also prompted Corn, Wheat and Soybeans finished higher Friday. CBOT floor brokers estimated that funds have bought 3,000 contracts of Corn, 2,100 contracts of Wheat and 2,400 contracts of Soybean till midday, a Chicago-based agriculture consultancy said in its daily commentary.

Have a terrific week.

Paul Ebeling

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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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