Chicago Agriculture Commodities Finished Lower
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) agriculture grains futures finished lower Wednesday in technically driven trade as investors squared positions toward the end of the year and the USD firmed.
The most active Corn contract for March delivery fell 6.75 cents, or 1.9%, to 3.4825 bu.
March wheat delivery dropped 8 cents, or 1.95%, to 4.015 bu.
January Soybean fell 7.75 cents, or 0.76%, to 10.165 bu.
In the outside markets, the Brent Crude market is + 0.34 bbl, the USD is higher, and the Dow Jones Industrials are 111 pts lower.
All 3 agriculture markets retreated after rising a day earlier due in part to worries about dry conditions stressing Corn and Soybean in portions of Argentina and northern Brazil.
A typical drop in trader participation between the Christmas and New Year’s Day holidays contributing to gyrations in agriculture grain prices this week.
A stronger USD added to Bearish sentiment, theoretically making US grains less attractive to holders of other currencies. The US Dollar (.DXY) ndex rose on concerns over next year’s Brexit negotiations and expectations of higher US economic growth.