Chicago Agriculture Commodities Finished Higher Friday

Chicago Agriculture Commodities Finished Higher Friday


Chicago Board of Trade (CBOT) Corn, Wheat and Soybean all rebounded and settled sharply higher to close the week Friday.

The most active Corn contract for Jul delivery added 12.50 cents, or 2.94%, to close at 4.3775 bu.

Jul Wheat delivery added 8.75 cents, or 1.85%, to settle at 4.8125 bu.

Jul Soybean advanced 25 cents, or 2.20%, to close at 11.595 bu.

On the week: Corn climbed 3.49%, Wheat declined 2.78%, and Soybeans fell 1.59%, ending 9 successive weekly gainer in a row.

The overnight US weather forecast did not favor moisture in the crop lands of the US Midwest, and agriculture analysts noted that Corn, Soybean rebounded on concerns of dryness in the crop zone.

Wheat climbed on technical buying as it had fallen for 6 successive trading days before Friday. The data showed that funds bought 2,600 contracts of Wheat before mid-day Friday.

The US Department of Agriculture (USDA) said Friday morning that private exporters reported export sales of 129,000 tonnes of Soybean for delivery to China and export sales of 395,000 tonnes of Soybean for delivery to unknown destinations, the fresh export news helped Soybean peice Friday

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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