Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower


Chicago Board of Trade (CBOT) agriculture commodities finished lower Thursday morning, as investors prepare for Friday’s Acreage and Quarterly Stocks Report by the US Department of Agriculture (USDA).

July Corn was 1.5c lower at 3.51 Bu as of 1630 GMT,

September Wheat was 4c lower at 4.845 Bu, and

November Soybean was down 5.5c at 8.835 Bu.

Thursday, investors digestrd the estimates for the US Q-1 Y 2018 GDP growth and the weekly report on initial jobless claims.

  1. Q-1 GDP – 3rd Estimate (actual 2.0%; consensus 2.2%; prior 2.2%)
  2. Q-1 GDP Deflator – 3rd Estimate (actual 2.2%; consensus 1.9%; prior 1.9%)
  3. Weekly Initial Claims (actual 227-K; consensus 220-K; prior 218-K), and
  4. Continuing Claims (actual 1705-K; prior 1723-K)

Favorable crop weather around the US farm belt weighed on grain markets in general, but declines were limited by US Department of Agriculture (USDA) weekly data showing good export sales following recent price declines.

According to USDA Weekly Export Sales report released on Thursday, US exporters sold 33-M bu of Corn Vs 7-M the week prior; 13-M bu of Soybean Vs 11-M the week before, and 21-M bu of Wheat Vs 17-M in the last week.

Have a terrific weekend.

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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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