Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed


Chicago Board of Trade (CBOT) agriculture commodities finished mixed Wednesday, with Wheat, Corn futures pulling back after rallying strongly for 2nd straight sessions, Soybean finished higher.

The most active Corn contract for July delivery lost 2.5 cents, or 0.65%, to close at 3.8475 bu.

July Wheat delivery dropped 4.25 cents, or 0.87%, to close at 4.835 bu.

Soybean for July delivery added 1.25 cents, or 0.12%, to close at 10.285 bu.

US grains decreased for the day, snapping their 2-session winning streak, as investors took profits from the recent rally in Wheat and Corn markets amid normal weather and ample crop supplies.

The data released by US Energy Information Administration (EIA) Wednesday showed drops in Ethanol production and in inventory, which was seen as Neutral to Corn futures.

US Ethanol production through the week ending 22 April was down about 1.3% from the prior week to 927,000 BPD, while US Ethanol stocks decreased by almost 2% WTD.

Wednesday, the most active Soybean contract climbed to the highest settlement price since 14 July  2015, logging a new 9-month high, driven by the news that the US Department of Agriculture (USDA) announced the sale of 393,000 tonnes of Soybean to an unknown buyer.

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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