Chicago Agriculture Commodities Finished Mixed Monday

Chicago Agriculture Commodities Finished Mixed Monday

Chicago Agriculture Commodities Finished Mixed Monday

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) Corn unchanged Monday, Wheat retreated a little, while Soybean extended gains.

The most active Corn contract for July Unchanged at 3.9175 bu.

July Wheat delivery declined 0.75 cents, or 0.15%, to close at 4.8775 bu.

July Soybean advanced 14.00 cents, or 1.36%, to close at 10.4375 bu.

Agriculture analysts said that Soybean advanced Monday on sharp gains of Soybean meal, while weaker USD also helped USD-dominated Soybean.

Additionally, technical buying boosted Soybean higher Monday.

CBOT floor brokers estimated that funds have bought 2,400 Soybean and 4,900 contracts of Soybean meal, a Chicago-based agriculture consultancy, reported Monday in its mid-day commentary.

Wheat retreated a bit Monday and analysts noted that beneficial rain in the coming days in US Midwest has boosted growing optimism of Winter Wheat there.

Stay tuned…

Paul Ebeling

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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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