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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