Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower

$CORN, $WEAT, $SOYB

 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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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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