Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures settled higher Thursday with CME Group’s farm futures jumping double-digits on Soybean, Corn dropped and Wheat traded slightly higher on the United States Department of Agriculture (USDA) data.

The most active Corn contract for March delivery rose 1 cent, or 0.28%, to 3.58 25 bu.

March Wheat delivery rose 7.5 cents, or 1.79%, to 4.2625 bu.

March Soybean dropped 17.75 cents, or 1.75%, to 9.9475 bu.

The US farmers had a smaller haul in the Fall of Y 2016 than 1st thought, according to the USDA Thursday.

In its January Crop Production and Supply/Demand Reports, the USDA data shows the US MY 2016/17 Corn production at 15.148-B bu Vs the USDA’s November estimate of 15.226-B bu and the average analysts’ estimate of 15.19-B.

The US Corn yield is pegged at 174.6 BPA compared with the USDA’s November estimate of 175.3 BPA.

For Soybeans, the US 2016/17 production is pegged at 4.307-B bu Vs. the USDA’s November estimate of 4.361-B and the average agriculture analysts’ estimate of 4.374-B.

USDA’s Soybean yield estimate of 52.3 BPA is below its November estimate of 52.5 BPA and the average agriculture analysts’ estimate of 52.7 BPA.

Thursday, the USDA pegged the US all Winter Wheat seedings for Y 2017 harvest at 32.40-M Vs. the average analysts’ estimates of 34.13-M, the lowest in 50 years.

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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