Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$WEAT, $SOYB, $CORN

Chicago Board of Trade grains futures finished mixed Monday with Wheat futures climbing more than 1% as traders covered short positions following US regulatory data last week.

Soybean and Corn futures both were flat to narrowly mixed in thin trading, with some Soybean contracts rebounding from Friday’s losses on support from US Department of Agriculture (USDA) data showing big shipments and new sales of Soybean to China.

The most active Corn contract for December delivery fell 0.25 cents, or 0.07%, to 3.5475 bu.

December Wheat delivery added 7.75 cents, or 1.9% to 4.1625 bu.

January Soybean fell 0.25 cents, or 0.02%, to 10.1175 bu.

The USDA said 264,000 tonnes of US Soybean were sold to China and that another 2.87-M tonnes of US Soybean were inspected last week for export.

Robust export demand for US Soybean and Corn has offset pressure from record-large US Soybean and Corn harvests.

The USDA said after the close of trading that the US Soy harvest was 87% complete and Corn 75% done, roughly in line with analyst expectations.

Soybeans hit a 2-month high last week before easing and some investors already were looking ahead to a USDA monthly supply and demand report due on 9 November.

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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