Chicago Agriculture Commodities Finished Higher

Chicago Agriculture Commodities Finished Higher

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) grains futures closed higher Wednesday with the Wheat going through ups and downs due profit-taking.

The most active Corn contract for December delivery rose 4.75 cents, or 1.19%, to 4.04 bu.

September Wheat delivery went up 5 cents, or 0.9% to 5.60 bu.

November Soybean went up 13.5 cents, or 1.38%, to 9.9425 bu.

CBOT brokers estimated that funds were net buyers of 6,000 contracts of Corn and 5,000 contracts of Soybean, while selling 1,000 contracts of Wheat.

Warmer and drier weather forecasts have sent Wheat price to new high following 6 consecutively rising sessions.

The Wheat futures managed to keep in the Green at close, said agriculture analysts.

Futures really started higher but profit-taking put a lid on the market

It looks like the hot and dry conditions are going to remain, so expect that there is going to be big volatility in the rest of Summer.

Corn and Soybean stayed firm Wednesday, with Soybean inching toward 10.00 bu mark.

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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