Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$SOY, $WEAT, $CORN

Chicago Board of Trade (CBOT) agriculture commodities finished mixed Thursday, as wheat futures climbed for a 2nd day running on bargain buying following the market’s recent drop and on a weather-reduced Wheat crop in Russia, the world’s top exporter.

Corn followed Wheat higher, underpinned by concerns that heavy rains and flooding in parts of the US Midwest could drag down crop prospects.

Soybean fell on continued worries about poor demand from China on rising trade tensions between the United States and the world’s top soybean importer.

A weaker USD gave agriculture grain markets underlying support on hopes that the currency move could, along with lower grain prices, ignite better export demand.

People are bottom picking and trying to take advantage of these lower prices

CBOT July Corn gained 2.75c, or 0.8%, to 3.57 Bu.

CBOT July soft red winter Wheat rose 7c, or 1.4%, to $4.9525 Bu.

CBOT July Soybeans fell 9c, or 1%, to $8.8025 Bu.

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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