Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower


 Chicago Board of Trade (CBOT) agriculture grains futures finished lower Tuesday with investors shrugging off bigger-than-expected declines in US crop ratings to focus on ample supply of grain worldwide.

The most active Corn contract for December delivery fell 8.5 cents, or 2.18%, to 3.8225 bu.

September Wheat delivery dropped 14.75 cents, or 3.02% to 4.74 bu.

November Soybean fell 17.25 cents, or 1.71%, to 9.9275 bu.

Agriculture analysts, say the volatile market continues in the grain market, with discounting of the lower crop ratings and investors focusing on the overall supply of grain in the world and the seasonal drop in exports.

The US Agriculture Department (USDA) said Monday afternoon that 57% of the US Soybean crop was in good to excellent condition, down from 61% last week.

USDA said the Corn crop was 62% good to excellent as of 23 July, 1% worse than market forecasts.

Stay tuned…

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