Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed


Chicago Board of Trade (CBOT) agriculture commodities finished mixed Thursday, with Wheat futures rising for the 3rd session running on worries that adverse weather will lead to crop shortfalls in Key growing areas around the world.

Soybean futures fell, pressured by fresh concerns about exports.

Corn futures closed lower on long liquidation by funds after failing to hold support above Key technical points.

The most active Corn contract for July delivery fell 4c, or 1% to close at 3.9525 bu.

July Wheat delivery added 3.25c, or 0.66% to close at 4.975 bu.

July Soybean delivery dropped 4.75c, or 0.48% to close at 9.95 bu.

Much of the US southern Plains is suffering from either an extreme or exceptional drought, the worst possible ratings, according to the US Drought Monitor.

As for international market, showers are slated to fall across the winter Corn areas of South America through the weekend.

Black Sea winter Wheat areas will receive near normal rain over the next 10 days with dryness deepening a drought across Australia. The possibility of rainfall in Canada diminished in Thursday’s forecast.

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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