Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures finished lower Thursday with Soybean losing nearly 2% over favorable weather pattern.

The most active Corn contract for December delivery fell 1.25 cents, or 0.33%, to 3.7775 bu.

Sept Wheat delivery went down 3 cents, or 0.65% to 4.5775 bu.

November Soybean declined 17 cents, or 1.74%, to 9.605 bu.

CBOT volume was active with funds on the sell side of the marketplace. Brokers reported that funds sold 9,300 contracts of Soybean, 3,000 contracts of Corn, while selling 1,800 contracts of Wheat.

A more favorable weather pattern led to the downturn of gain futures, said agriculture analysts.

“Soybean have been the main story over the past several sessions, they have been taking majority of the pressure in the grains complex as weather improves and we look for probably a little bit better yield on the back of the better weather,” said 1 agriculture grains trader.

Weather conditions for the next 2 weeks is expected to improve further especially in the US Midwest, which is a good for Corn and Soybean.

Have a terrific weekend.

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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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