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 Corn futures falling nearly 1% on technical selling as the harvest of a large US crop loomed.

Soybean followed the weak trend, declining in the absence of fresh supportive news, and Wheat retreated from early advances as traders awaited reports from the US crop harvest.

The most active Corn contract for December delivery dropped 3.25 cents, or 0.92%, to 3.4825 bu.

December Wheat delivery fell 0.5 cent, or 0.11%, to 4.43 bu.

November Soybean inched down 2.25 cents, or 0.23%, to 9.655 bu.

CBOT brokers report that funds Tuesday have sold 6,000 contracts of Soybean, 7,000 contracts of Corn, and 3,200 contracts of Wheat.

Grains were trading mixed Tuesday with harvest and yields dictating direction.

Slower farmer selling will limit the selling, and light exports kept pressure on the grains early.

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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