Chicago Agriculture Commodities Finished Lower
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) agriculture grains futures finished lower Wednesday following an uneventful session as Bearish atmosphere continued to hang over the markets.
The most active Corn contract for May delivery declined 2.5 cents, or 0.69%, to 3.5875 bu.
May Wheat delivery went down 4.25 cents, or 1 percent to 4.2225 bu.
May Soybean fell 1.75 cents, or 0.17 percent, to 9.9975 bu.
Soybean remain pressured buy record-high harvest in South America. Analysts noted that even if some production for Brazil were possibly overestimated, it’s still doubtless the crop is big.
Wheat futures at European markets have fallen to a 7-week low Wednesday, while the Chicago Wheat skidding to its lowest mark since the beginning of February. Abundant supplies, favorable weather forecasts for Wheat-growing southern plains in the US have contributed to the decline.
Corn kept its down-turn Wednesday as rain forecasts would benefit the development of Brazilian Corn.
Weak energies, weak equities, and weak South American cash markets have also combined to weigh on US agricultural futures, noted the Chicago-based AgResource company.