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.
Latest posts by Paul Ebeling (see all)
- Wall Street’s Key Stock Analysts Research Report - February 24, 2020
- President Trump’s “Your Fired” List has been Prepared - February 24, 2020
- Commentary: Paul Ebeling on Wall Street - February 23, 2020