Chicago Agriculture Commodities Finished Lower

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

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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