Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed


Chicago Board of Trade (CBOT) Corn extended gains Monday, Wheat flat to unchanged, Soybean fell for a 4th session running.

The most active Corn contract for Jul delivery gained 3.25 cents, or 0.83%, to close at 3.94 bu.

Jul Wheat delivery was Unchanged at 4.7475 bu.

Jul Soybeans was lower of 0.5 cents, or 0.05%, to close at 10.645 bu.

Agriculture analysts said that Corn extended gains on fresh export news as the US Department of Agriculture (USDA) said Monday morning that private exporters reported export sales of 128,000 tonnes of Corn for delivery to South Korea during MY 2015/2016.

The USDA said last Thursday in its weekly export sales report that Corn net sales till the week of 5 May reached 1,105,300 tonnes, up 44% from the previous week. Corn already advanced 3.51% last week.

Soybean continued to decline on profit taking after Soybeans’s big advance last week. CBOT floor brokers estimated that funds have sold 3,500 contracts of Soybeans in the morning session, according to a Chicago-based agriculture consultancy.

Additionally, the lower price of Soybean meal Monday also pressured Soybean down, analysts said.

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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