Chicago Agriculture Commodities Finished Higher

Chicago Agriculture Commodities Finished Higher

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished  higher Thursday over weather concerns in North and South America.

The most active Corn contract for March delivery edged up 0.5c, or 0.14% to settle at 3.6775 bu.

March Wheat delivery went up 6c, or 1.32% to close at 4.6175 bu.

March Soybean rose 7c, or 0.69% to settle at 10.2425 bu.

Concerns that Argentine Soybean will suffer yield decrease due to deepening drought pushed up prices again. The Soybean futures have post gains for 4 days running, and reached new high since last July.

In the southern US plains, where hard-red winter Wheat is grown, little rain has fallen in the past 4 months, with little rain in the forecast.

According to US Department of Agriculture (USDA), for the week ending 8 February US exporters sold 78-M bu of Corn, 11-M bu Wheat and 24-M bu of Soybean. All were generally in line with trade bets.

Have a terrific holiday weekend.

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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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