Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures finished lower Thursday with Corn futures sagging more than 1.5% on technical selling and expectations of a US bumper harvest.

The most active Corn contract for December delivery dropped 5.75 cents, or 1.59%, to 3.5525 bu.

December Wheat delivery fell 8.5 cents, or 1.91%, to 4.3725 bu.

November Soybean went down 2.25 cents, or 0.23%, to 9.6875 bu.

Wheat faced pressure from weak worldwide demand for US supplies and a round of profit taking following a run-up to the 3-week high marked Wednesday.

Soybean ended in negative territory after trading higher for much of the day.

Corn’s drop to session lows spilled over to Soybean futures late in the session. The Soybean market’s failure to hold support above Wednesday’s high also added to the Bearish tone.

Have a terrific weekend.

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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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