Chicago Agriculture Commodities Finished Higher

Chicago Agriculture Commodities Finished Higher


Chicago Board of Trade (CBOT) agriculture commodities finished higher Wednesday with Soybean futures rising on concerns about dry weather in Argentina.

Corn futures rose slightly on increasing export demand while Wheat futures went up on Short covering.

The most active Corn contract for May delivery rose 0.5c, or 0.13% to close at 3.75 bu.

May Wheat delivery went up 0.5c, or 0.11% to close at 4.535 bu.

May Soybean added 1.5c, or 0.15% to close at 10.2975 bu.

The US Department of Agriculture (USDA) late Monday rated 11% of Top winter Wheat producer Kansas in good-to-excellent condition, down from 12% a week earlier. Wheat ratings also declined in Texas.

Analysts said Monday’s crop rating showed a new degradation of Wheat conditions in the United States, but it did not take into account the rains of the weekend. Thus, the crop rating of next week will be monitored closely.

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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