Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower

$CORN, $WEAT, $SOYB

 Chicago Board of Trade (CBOT) agriculture grains futures finished lower Monday with Wheat declining for the 4th session running

The most active Corn contract for December delivery dropped 1.5 cents, or 0.39%, to 3.88 bu.

September Wheat delivery went down 4.75 cents, or 0.93% to 5.06 bu.

November Soybean slid 4 cents, or 0.4%, to 9.975 bu.

CBOT brokers estimated that funds bought 5,600 contracts of Corn and 3,600 contracts of Soybean, while being flat Wheat.

Rains across areas of a main US Wheat producing region added pressure on its prices, following trend of below normal rainfall and above normal temperatures these days, said agriculture analysts.

With Russia’s wheat production estimates keeping rising, the European Wheat prices also fell on Monday in the wake of US markets.

Both Corn and Soybean futures posted more than 1% gainers last Friday. Profit-taking played a role in their declines Monday.

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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