Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures finished lower Wednesday with Corn posting nearly 1% loss over high yield anticipation.

The most active Corn contract for December delivery fell 3.25 cents, or 0.93%, to 3.46 bu.

December Wheat delivery went down 2 cents, or 0.46%, to 4.3325 bu.

November Soybean lost 0.75 cent,or 0.08 percent, to 9.6525 bu.

CBOT floor brokers reported that funds sold 4,000 to 5,000 contracts of Corn and 4,000 contracts of Wheat, while buying 800 contracts of Soybean.

The US Department of Agriculture (USDA) is set to release its monthly supply and demand report Thursday, and many investors now expect high yield estimates of Corn, despite that rains slowed down harvest in the US Midwest.

Soybean followed Corn futures, but only recorded moderate losses due to still high export demand.

Wheat futures went down as a result of technical selling, said analysts.

All the agricultural commodities have suffered losses in the past 3 sessions running.

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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