Chicago Agriculture Commodities Finished Higher Friday

Chicago Agriculture Commodities Finished Higher Friday

Chicago Agriculture Commodities Finished Higher Friday

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished higher Friday on massive fund buying.

The most active Corn contract for July delivery rose 3.25c, or 0.82% to settle at 3.985 bu.

July Wheat delivery went up 9c, or 1.84% to close at 4.985 bu.

July Soybean were up 16.75c , or 1.61% to settle at 10.5625 bu.

CBOT Corn, Wheat and Soybean futures soared to sharp gains on massive fund buying, reported floor traders.

The US Department of Agriculture (USDA) Thursday released its weekly export sales report, showing that Wheat beat traders’ expectations with total export volume at 297,200 tonnes, up noticeably from both the prior week and average. The latest data drove up Wheat prices.

Increasing demand for US Soybean and Soymeal from Argentina, where Soy corps suffered from severe dryness this year, boosted CBOT Soybean prices.

Expectations among farmers and traders that high-ranking US officials could make a deal next week in Beijing to avoid trade war with China also underpinned Soybean futures

Have a terrific week

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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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