Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower

$WEAT, $CORN, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures finished lower Wednesday with Corn futures falling more than 1% on forecasts for better Midwest planting weather.

Soybean declined and Wheat turned lower as Corn tumbled.

The most active Corn contract for July delivery fell 5 cents, or 1.34%, to settle at 3.6675 bu.

July Wheat delivery fell 0.5 cent, or 0.12% to 4.265 bu.

July Soybean dropped 8.5 cents, or 0.88%, to 9.565 bu.

A Chicago senior agriculture analyst, says that this is a weather market.

“For corn planting, there is too much rain. For wheat, there is too much cold and too much rain. We might see some limited switching in a couple of weeks if these weather patterns continue,” he said

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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