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Chicago Agriculture Commodities Finished Mixed

Posted by: : Paul EbelingPosted on: October 3, 2014 Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

Chicago agriculture commodities closed mixed Friday, with Corn and Wheat rising and Soybean dropping.

The most active Corn contract for Dec delivery rose 0.5 cents, or 0.15%, to close at 3.2325 bu.

Dec Wheat gained 3 cents, or 0.62%, to close at 4.8575 bu.

Nov Soybean shed 12.25 cents, or 1.33%, to close at 9.1225 bu.

Wheat and Corn gained as the US Dollar rose.

Informa pegged US Corn yield at 176.4 bu/acre, higher than expected, but cut the sowing acreage by 2.2-M acres.

In Informa’s October report it cut Ukraine’s Corn crop by 1.5-M tonnes, and lowered Wheat production in Australia by 0.9-M tonnes to 23. 9-M tonnes due to dryness across the country’s East.

Statistics Canada also lowered its all Wheat production by 200, 000 tonnes to 27.5-M tonnes.

Soybean fell as Informa pegged US Soybean yield at 48.5 bu/acre and production at 4,017-M bu, up 160-M bu from its past  estimate. Statistics Canada also raised the estimate of Soybean production in Canada.

Weather forecast for the next 2 wks is mixed.

Rain will finish across the East Midwest in the next 24 hours but will return on 10-12 October delaying harvest then. Frost is expected to expand southward into the Central Plains and the Midwest after 10 October.

Market analysts expect choppy and narrow trading on the Chicago agriculture grains market next week before the U.S. Department of Agriculture releases its October Crop Report.

Agriculture Commodity Prices


Commodity Units Price Change % Change Contract Time(ET)
CBOT Corn USd/bu. 323.25 +0.50 +0.15% Dec 14 14:25:46
CBOT Wheat USd/bu. 485.75 +3.00 +0.62% Dec 14 14:14:59
CBOT Oats USd/bu. 342.25 -2.25 -0.65% Dec 14 14:14:56
CBOT Rough Rice USD/cwt 12.59 +0.03 +0.24% Nov 14 14:14:55
CBOT Soybeans USd/bu. 912.25 -12.25 -1.33% Nov 14 14:27:57
CBOT Soybean Meal USD/st 298.80 -2.50 -0.83% Dec 14 14:26:42
CBOT Soybean Oil USd/lb. 32.42 -0.38 -1.16% Dec 14 14:28:04
ICE Canola CAD/mt 403.80 +5.60 +1.41% Nov 14 14:14:59

Have a terrific weekend.

Paul Ebeling


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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.

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