Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures finished lower Tuesday due to profit taking., following a 2-day bounce on Corn and Wheat.

Corn and Wheat futures had risen for 2 straight sessions, boosted by a projection that US farmers would plant less Corn and Wheat and switch to Soybean.

The most active Corn contract for May delivery went down 4.75 cent, or 1.29%, to 3.63 bu.

May Wheat delivery slipped 0.75 cents, or 0.18%, to 4.27 bu.

May Soybean dropped 0.5 cents, or 0.05%, to 9.3775 bu.

The US Department of Agriculture (USDA) reported last Friday that American farmers would plant less acres of Corn and Wheat and more of Soybean this year.

Soybean futures, pressured by larger acres in the US and a record-high harvest in south America, continued its down-turn.

By contrast, the outside markets, including Gold, Crude Oil, DJIA and USD, were all higher and stronger Tuesday.

Stay tuned…

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