Chicago Agriculture Commodities Finished Higher

Chicago Agriculture Commodities Finished Higher

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished higher Wednesday as a slide in the USD lifted commodity markets, driving Corn futures to their highest price in 7 weeks.

The most active Corn contract for March delivery added 5.25c, or 1.49% to close at 3.565 bu.

March Wheat delivery rose 11.5c, or 2.73% to close at 4.33 bu.

March Soybean went up 6c, or 0.61% to settle at 9.9225 bu.

The .DXY which measures the Buck against a basket of 6 peers, dropped 0.9% to 89.32 as of 1900 GMT, which is its lowest level since December 2014.

Weakness in USD is often considered supportive for grains markets because it makes US crops more attractive to global buyers.

CBOT floor brokers estimate that funds are net buyers of 7,300 contracts of Corn, 3,800 contracts of Wheat, and sellers of 2,000 contracts 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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