Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower

$WEAT, $CORN, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures finished lower Monday with May Wheat delivery falling 2.27%, the biggest decrease on a percentage basis since last October.

The most active Corn contract for May delivery fell 3.25 cents, or 0.89%, to 3.61 bu.

May Wheat delivery fell 10 cents to 4.305 bu.

May soybeans dropped 0.5 cent, or 0.05, to 10.06 bu.

Russia’s Ruble was slightly weaker Monday as its Black Sea Wheat reportedly suffered little Winter kill damage, which makes Russian Wheat more competitive.

Weather forecast of much-needed rain later this month in the southern plains of the US is a good news for Wheat-planting farmers there, but dragged the agriculture grain futures lower.

Corn followed the Wheat trend, with Soybean almost unchanged.

The May delivery Corn declined to a new low since February, as supplies remain ample in the world market.

It was a mostly quiet day in the Soybean market. Having seen huge yields in both the US and Brazil, the trade is switching its attention to the Argentine crop.

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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