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 futures dropping more than 2% on profit taking as traders said damage from a drought in the US Plains is now fully priced in the market.

Corn and Soybean futures also weakened on better harvest prospects as the weather improved in Key growing areas of the US Midwest. Expectations for more storms this week and cooler weather added further pressure.

The most active Corn contract for December delivery fell 2.75 cents, or 0.7%, to 3.9075 bu.

September Wheat delivery dropped 10.5 cents, or 2.1% to 4.8875 bu.

November Soybean fell 12.25 cents, or 1.2%, to 10.10 bu.

Meanwhile, the United States Department of Agriculture (USDA) announced Monday a fresh Corn sale.

Private exporters reported to the USDA export sales of 135,000 tonnes of Corn for delivery to unknown destinations during the MY 2017/2018. The marketing year for Corn begins on 1 September.

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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