Chicago Agriculture Commodities Finished Mixed

Posted by: : Paul EbelingPosted on: August 4, 2015 Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed


Chicago Board of Trade (CBOT) Corn, Soybean rebounded Tuesday on bargain buying, but Wheat extended losses because of ample supplies with volumes thin on the overall market.

The Corn contract for Dec delivery was up 2.25 cents, or 0. 60%, to close at 3.7875 bu.

Sept Wheat delivery lost 5.50 cents, or 1.10%, to close at 4.935 bu.

Nov Soybean added 6.75 cents, or 0.72%, to close at 9.4225 bu.

Analysts said that Corn saw a technical bounce on thin volume on the market as Corn settled at 6-week low Monday and Soybean rose off a 1-week low.

CBOT agriculture floor brokers reported that funds bought 4,000 contracts of Corn and 2,200 contracts of Soybean before Midday Tuesday, according to an agriculture grains analyst.

The US Department of Agriculture said Monday afternoon in its weekly Report of Crop Progress that in the week of 2 August, US Corn condition unchanged, at 70% good or excellent, while Soybean conditions were lifted 1% to 63% good or excellent, in line with market expectation. Some analysts said that the report was also supportive to Corn and Soybean.

Wheat extended losses on ample supplies as Russian wheat prices declined further and Ukraine are expected to increase Wheat exports as the harvest picked up paces, analysts said.

Stay tuned…


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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