Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities ended mixed Thursday with Wheat prices falling more than 2% due to less-than-expected export sales.

The most active Corn contract for May delivery fell 2c, or 0.51% to settle at 3.8675 bu.

May Wheat delivery lost 10c, or 2.05% to close at 4.7875 bu.

May Soybean were up 8.5c, or 0.82% to settle at 10.4075 bu.

The US Department of Agriculture (USDA) released its latest weekly export data Thursday.

For the period 2-8 March US exporters reported sales of 162,800 tonnes of Wheat for delivery in MY 2017/2018. The sales were down 58% from the prior week and 47% from the prior 4-week average.

The Bearish news led to the sharp fall of CBOT Wheat prices.

Meanwhile, the upbeat data of US Soybean export sales underpinned the CBOT Soybean futures.

USDA reported weekly sales of 1,269,600 tonnes of Soybean for 2017/2018 delivery, +30% from the prior 4-week average.

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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