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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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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