Chicago Agriculture Commodities Finish Mixed

Chicago Agriculture Commodities Finish Mixed

$CORN, $WEAT, $SOYB

Chicago agriculture commodities finished mixed Tuesday, with Soybean futures jumping 1% as investors bought back short positions amid extended forecasts for warm and dry weather in Argentina.

Wheat futures were narrowly lower and Corn about flat at CBOT as volumes remained relatively light following Monday’s Christmas Holiday.

The most active Corn contract for March delivery went up 0.75c, or 0.21%, to 3.5275 bu.

March Wheat delivery fell 2.5c, or 0.59%, to 4.2225 bu.

March Soybean added 10.25c, or 1.07%, to 9.705 bu.

CBOT brokers estimate that funds have bought 1,100 contracts of Corn and 4,900 contracts of Soybean, while selling 1,200 contracts of Wheat.

Funds have also bought 2,600 contracts of Soyoil and 3,100 contracts of Soymeal. Fund managers want to bank some profits knowing what their bonuses will amid less than certain South American weather.

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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