Chicago Agriculture Commodities Finished Higher

Chicago Agriculture Commodities Finished Higher

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished higher Monday with Wheat prices rising almost 4% on cold and snowy weather hit the US plains.

The most active Corn contract for May delivery rose 2.25c, or 0.58% at 3.9075 bu.

May Wheat delivery went up 18.5c, or 3.92% to close at 4.9075 bu.

May Soybean gained 13.25c, or 1.28% to settle at 10.47 bu.

Wheat futures rose over concerns that unusually cold weather in the US southern plains and eastern Midwest hurt or would harm winter wheat.

Temperatures last week fell well below Zero degree Celsius in some areas during overnight hours and snow fell in a large area in the Midwest Monday.

As for CBOT Soybean, news of latest export sales boosted the prices.

Last Friday, The US Department of Agriculture (USDA) said 458,000 tonnes of Soybean were sold to unknown destination, with more than 67% for delivery in the current MY (marketing year) that ends on 31 August.

Monday, the USDA reported another export sale of 232,500 tonnes of US Soybean.

Meanwhile, US President Donald Trump and other US officials tried to assure Soybean growers that they would be protected amid high tensions with China on trade issues.

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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