Chicago Agriculture Commodities Finished Lower
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) agriculture grains futures finished lower Wednesday as the US Department of Agriculture (USDA) report projected higher supplies than the market had expected.
The most active Corn contract for December delivery dropped 15.5 cents, or 3.74% to 3.9875 bu.
September Wheat delivery added 3 cents, or 0.55% to 5.53 bu.
November Soybean rose 4 cents, or 0.38%, to 10.4325 bu.
In its report, the USDA pegged the US MY 2017/2018 corn ending stocks at 2.32-B Vs the average estimate of 2.181-B bu and last month’s 2.11-B bu.
The USDA sees US MY 2017/2018 Soybean ending stocks at 460-M bu Vs the trade’s estimate of 495 -M bu and USDA’s June estimate of 495-M bu.
The US MY 2017/2018 Wheat ending stocks are pegged at 938-M bu Vs the trade’s estimate of 876-M bu and USDA’s June estimate of 924-M bu.
Soybean fell for the 1st time in 8 sessions as prices edged down from a 4 month high