Chicago Agriculture Commodities Finished Higher

Chicago Agriculture Commodities Finished Higher

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures finished higher Friday with Wheat futures posting gains for 3 days running, as yields in drought-hit US Wheat belts continued to decrease.

Corn and Soybean firmed on concerns about a dry weather forecast in Key growing areas of the US Midwest.

The most active Corn contract for December delivery rose 1.75 cents, or 0.45%, to 3.8775 bu.

September Wheat delivery added 2 cents, or 0.42% to 4.7975 bu.

November Soybean went up 7.25 cents, or 0.72%, to 10.075 bu.

According to the National Weather Service (NWS), only isolated or scattered showers are expected this weekend in the northern Plains, and no severe storms are forecast.

Commodity Weather Group said in a report earlier this week that the chances of rainfall are below normal for the month of August, which likely will further hurt Spring crops.

On the week, Corn futures fell 0.9%, Soybean futures edged up 0.5%. CBOT soft red winter Wheat was down 2.5%, while spring Wheat was down 2.7%.

Have a terrific week.

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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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