Chicago Agriculture Commodities Finished Lower
$CORN, $WEAT, $SOYB
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.