Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures closed lower Thursday with Wheat posting the biggest percentage decliner since Mid-March.

The most active Corn contract for May delivery fell 4 cents, or 1.1%, to 3.6075 bu.

May Wheat delivery slipped 6.5 cents, or 1.51% to 4.2325 bu.

May Soybeans was down 2.75 cents, or 0.29%, to 9.415 bu.

The US Department of Agriculture (USDA)Thursday released a weekly export report indicating Corn, Wheat and Soybean sales at the high end of expectations. However, the news gave little support to the CBOT market and agriculture grain traders continued to sell off.

As The US Dollar (.DXY) Index rose Thursday by 0.2% to stand at 100.71 as of 18:15 GMT, it theoretically made US grains less attractive on the market full of excess inventory.

The CBOT market tone was overall Bearish on a fundamental basis and funds were piling into additional market Short positions according the the market data.

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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