Chicago Agriculture Commodities Finish Mixed

Chicago Agriculture Commodities Finish Mixed

$CORN, $WEAT, $SOYB

Chicago agriculture commodities finished mixed Wednesday, with Wheat futures rebounding over concerns about cold weather threatening a Key wheat growing region.

Corn rose on spillover support from Wheat and as traders covered short positions following recent contract lows.

Soybean fell to 3 month lows as rain in parts of Brazil and Argentina was seen favoring crops there.

The most active Corn contract for March delivery went up 1.75 cents, or 0.5%, to 3.4925 bu.

March Wheat delivery added 4 cents, or 0.95%, to 4.235 bu.

January Soybean fell 2 cents, or 0.21% to 9.54 bu.

CBOT brokers estimate that funds had bought 2,100 contracts of Corn and 1,400 contracts of Wheat, while selling 1,900 contracts of Soybean on the day.

The US Department of Agriculture’s (USDA) weekly report released Wednesday shows private sellers exported 500,000 to 575,000 tonnes of Wheat, 1 to 1.3-M tonnes of Corn, 1.1 to 1.4-M tonnes of Soybeans for the week ending on 14 December.

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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