Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$SOYB, $CORN, $WEAT

Chicago Board of Trade (CBOT) Soybean futures extended gains Wednesday as Midwest weather forecasts turned warmer and drier and evidence of continued export demand buoyed the market.

Prices for Corn rose, Wheat slipped.

The most active Corn contract for December delivery closed up 3.5 cents, or 1.03%, to 3.43 bu.

September wheat delivery fell 0.25 cents, or 0.06%, to 4.1475 bu.

November Soybean rose 12.25 cents, or 1.26%, to 9.86 bu.

Continuing signs of robust demand for US supplies of oilseed also helped shore up prices, with the US Department of Agriculture (USDA) reporting Monday that private exporters sold 131,000 tonnes of Soybean for delivery to China during MY’s 2015-16 and 2016-17 .

Agriculture analysts said speculation over increased buying interest from China, the world’s largest Soybean importer, added to positive sentiment in the market.

Prices for both Soybean and Corn have declined during much of July as frequent rain showers resulted in good growing conditions and historically high US crop condition ratings.

Wheat prices closed slightly lower due to ample domestic grain inventories and weakness in the European Wheat market.

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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