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 falling more than 1%, on technical selling and easing concerns that dry weather would reduce harvests.

The most active Corn contract for December delivery fell 2.75 cents, or 0.75%, to 3.63 bu.

December wheat delivery went down 5.5 cents, or 1.24% to 4.37 bu.

November Soybean dropped by 1.5 cents,or 0.16%, to 9.3625 bu.

CBOT brokers estimate that funds have sold 3,600 contracts of Wheat, 5,600 contracts of Corn, and 3,200 contracts of Soybean.

US traders exported 21.43-M bu of Wheat, 27.22-M bu of Corn, and 24.44-M bu of Soybean during last week ending 17 August, according to weekly export inspections of United States Department of Agriculture (USDA)

Good weather and good precipitation across mainly Iowa is pressuring prices.

The market’s feeling is that Corn yields are stabilizing and Soybean yields are getting larger with the August rains. New-crop export sales for corn are off to a rough start, and that is adding pressure to the market.

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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