Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) grains futures close mixed Thursday, with soybean futures settling higher amid strong export sales.

The most active corn contract for December delivery stay unchanged at 3.2925 dollars per bushel. December wheat delivery dropped 4.25 cents, or 1.05 percent, to 3.99 dollars per bushel. November soybeans rose 4.75 cents, or 0.5 percent, to 9.5025 dollars per bushel.

Exporters reported sales of 133,000 tonnes of soybeans to China and 211,171 tonnes to unknown buyers for delivery in the marketing year that started September 1 and sales of 1.58 million tonnes of corn to Mexico, the U.S. Department of Agriculture said yesterday. Exporters also reported sales of 120,000 tonnes of soybeans to China on Tuesday.

Signs of strong export demand for the oilseed also lent support to soybean futures but gains were kept in check by reports of good yields from fields in the western part of the U.S. Midwest as harvest ramped up.

Wheat futures fell on a technical setback amid ample global supplies. Corn futures ended unchanged as traders squared positions ahead of the U.S. Agriculture Department’s closely watched quarterly stocks report on Friday.

USDA said export sales of corn totaled just 575,000 tonnes, below a range of trade expectations for 750,000 to 950,000 tonnes. The bearish figure hung over the corn market throughout the trading day.

Rains could continue slowing harvesting of corn and soybeans in the eastern Midwest up to the weekend, but the west of the crop belt looks dry until at least Tuesday, traders said

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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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