Chicago Agriculture Commodities Finished Higher

Chicago Agriculture Commodities Finished Higher

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures finished higher Tuesday with Soybean futures rising 2% on a mix of technical buying and forecasts for dry weather in the Midwest that could threaten late-season yield prospects.

Corn and Wheat futures followed the higher trend.

The most active Corn contract for December delivery rose 3.25 cents, or 0.91%, to 3.585 bu.

December Wheat delivery rose 4.25 cents, or 0.97%, to 4.43 bu.

November Soybeans added 19 cents, or 2%, to 9.685 bu.

CBOT brokers estimate that funds have bought 6,000 contracts of Corn, 9,000 contracts of Soybean, and 3,200 contracts of Wheat.

The US Department of Agriculture (USDA) Tuesday announced that private US exporters recently sold 136,000 tonnes of Soybeans to China and 143,650 tonnes of Corn to Mexico.

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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