Chicago Agriculture Commodities Finished Higher Friday
$CORN, $SOYB, $WEAT
Chicago Board of Trade (CBOT) Corn, Soybean closed higher Friday amid fresh export news from the US government and ongoing worries about unfavorable weather in South America, Wheat ended flat to unchanged.
The most active Corn contract for May delivery added 4.5 cents, or 1.2%, to 3.785 bu.
Soybean for May delivery rose 8 cents, or 0.84%, to 9.56 bu.
May Wheat delivery was unchanged at 4.5975 bu.
Corn prices extended gains to a 4th session running Friday as the US Department of Agriculture(USDA) reported that more than 340,000 tonnes of Corn were sold to an unknown destination.
Agriculture analysts said speculators holding a large Short position in the Corn market, kept cutting their net-Bearish positions on worries that dryness in Brazil would curb output of some corn crops.
A weaker USD gave Chicago grains and Soybeans an upward jolt.
A stronger USD is Bearish for $-priced agriculture commodities, as it will make them more expensive for users holding other currencies.
On the week: the most active Corn contract for May delivery rose by 4.5%, May Wheat lost 0.1%, and May Soybean gained 4.3%.
Have a terrific week.
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