Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished mixed Tuesday as drought in Argentina drove Soybean prices to new high since last July.

The most active Corn contract for March delivery edged down 0.25c to settle at 3.6675 bu.

March Wheat delivery went down 3.25c, or 0.70%, to close at 4.6075 bu.

March Soybean gained 10c, or 1.0%, to settle at 10.1175 bu.

CBOT Wheat futures had gained more than a 3% rally over dryness in the US southern plains during the prior session. The prices ended lower Tuesday due to technical selling, said agriculture market analysts.

The drought in Argentina continued to push up Soybean futures sharply in the past 2 days, which reached new highs since the end of last July.

As drought is expected to deepen into late February, the Soybean prices have stood above 10.oo bu for 2 sessions running.

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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