Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished mixed Tuesday, with Wheat futures falling 0.44% as crop conditions stabilized in the dry US plains growing region.

Agriculture analysts said that investors are eyeing the US Department of Agriculture’s (USDA) monthly report due to be released Thursday.

The most active Corn contract for May delivery rose 1c, or 0.26% to close at 3.8825 bu.

May Wheat delivery dropped 2.25c, or 0.44% to close at 5.07 bu.

May Soybean fell 2.75c, or 0.26% to close at 10.7475 bu.

Tuesday, CBOT floor brokers report that funds sold 3,100 contracts of Wheat and 1,200 contracts of Soybean, while buying 2,900 contracts of Corn. In Soy products, funds have sold 1,800 contracts of Soymeal and bought 2,300 contracts of Soyoil.

As for international market, Egypt’s state grain buyer General Authority For Supply Commodities is tendering for world wheat and is expected to secure Russian Wheat.

Egypt’s new crop Wheat harvest will start in April and its international import demand is expected to wane into July.

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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