Chicago Agriculture Commodities Finished Higher

Chicago Agriculture Commodities Finished Higher

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures finished higher Monday, as investors covered short positions and less Midwest rain was recorded.

The most active Corn contract for December delivery rose 5.75 cents, or 1.51%, to 3.8675 bu.

September Wheat delivery went up 8.75 cents, or 1.92% to 4.635 bu.

November Soybean added 13 cents, or 1.36%, to 9.6975 bu.

Agriculture Grains are traded higher Monday across the board on Short covering, ahead of this week’s United States Department of Agriculture (USDA) crop production report.

The disappointing Midwest rain is also giving the market support, with yield reports lower than earlier estimated in some areas, said 1 grain analyst.

US weekly export inspections for the week ending 3 August were: 38.4-M bu of Corn, 25.2-M bu of Soybean, and 21.5-M bu of Wheat.

For their respective crop YTD, the US has shipped out 2,114-M bu of Corn and 2,035-M bu of Soybean.

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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