Chicago Agriculture Commodities Traded Higher

Chicago Agriculture Commodities Traded Higher

Chicago Agriculture Commodities Traded Higher

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished higher Monday morning, with Corn futures reaching a 9-month high as wet weather continued to keep producers from planting in parts of the US Midwest.

July Corn was 3.5c higher at 4.02 bu

July Wheat was 9.25c higher at 5.08 bu

July Soybean was up 3.4c at 10.5975 bu

As much as 2 inches of rain have fallen in parts of the Midwest in the past week, according to US government maps.

Missouri, eastern Kansas, and central Nebraska have all seen rain, along with most of the Delta states, according to the National Weather Service (NWS).

Money managers reduced their Bullish bets on Corn and Soybean, while bumping their net-Long positions in hard red winter Wheat.

In the week that ended 24 April, speculators were net long by 114,118 Corn futures contracts, down from 126,389 contracts a week earlier, according to the Commodity Futures Trading Commission (CFTC). That’s the lowest marks in almost a month

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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