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 closed higher Wednesday and the Soybean prices rebounded more than one percent, ending a 4-day fall.

The most active Corn contract for December delivery remained unchanged at 3.515 bu.

December Wheat delivery rose 1.25 cents, or 0.28%,to 4.4325 bu.

November Soybean went up 10 cents,or 1.05%, to 9.605 bu.

CBOT floor brokers reported that funds bought 2,400 contracts of Wheat, 4,600 contracts of Corn and 4,100 contracts of Soybean.

The US Department of Agriculture (USDA) Tuesday released its September crop report, which was deemed by the market Bearish, as it adjusted the US Corn and Soybean yields upwards.

The USDA estimates pressured the CBOT futures, with both Corn and Soybean suffering 1% losses.

Wednesday, technical buying boosted the their prices and the Soybean market got additional support from trade talk that China booked more US Soybean for late October or November, taking advantage of the relatively low prices.

The USDA announced Wednesday that private exporters reported new Soybean sales of 167,370 tonnes for delivery to Mexico. All the factors pushed the Soybean prices higher and ended 4-days of running slides.

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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