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 Soybean futures falling slightly despite export demand and uncertainty about yield prospects.

Corn fell on expectations of continued, burdensome US supplies, and wheat sagged on technical selling.

The most active Corn contract for December delivery dropped 3.25 cents, or 0.92%, to 3.515 bu.

December Wheat delivery fell 5.5 cent, or 1.22%, to 4.435 bu.

November Soybean went down 1 cent, or 0.1%, to 9.6775 bu.

CBOT floor brokers report that funds have sold 4,300 contracts of Corn and 3,200 contracts of Wheat, while buying a net 2,100 contracts of Soybean. Funds early sold 2,000 contracts of Soybean.

For the week ending 14 September, US private traders exported 26.5-M bu of Corn, 17-M bu of Wheat, and 34.1-M bu of Soybean in MY 2017/2018 marketing year, according to data released Monday by the United States Department of Agriculture (USDA).

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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