Chicago Agriculture Commodities Finished Higher

Chicago Agriculture Commodities Finished Higher

Chicago Agriculture Commodities Finished Higher

$SOYB, $CORN, $WEAT

Chicago Board of Trade (CBOT) agriculture commodities finished higher Tuesday with Wheat rallying amid world weather concern and technical buying.

The most active Corn contract for July delivery rose 2c, or 0.5% to settle at 4.0475 bu.

July Wheat delivery went up 14.25c, or 2.81% to close at 5.215 bu.

July Soybean were up 5.25c, or 0.51% to settle at 10.305 .bu

CBOT brokers reported that funds bought 6,700 contracts of wheat, 5,300 contracts of Corn and 2,500 contracts of Soybean.

Wheat futures were sharply higher on threatening dryness in Canada, Australia and the Black Sea, all Key Wheat producing areas. Technical buying following a sharp price fall in the prior session also boosted the Wheat futures.

Meanwhile, CBOT Soybean continued to rise after the United States and China vowed not to launch a trade war against each other.

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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