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 and Corn prices plunging more than 1%.

The most active Corn contract for December delivery fell 3.75 cents, or 1.06%, to 3.75 bu.

December Wheat delivery went down 3.5 cents, or 0.78%, to 4.4475 bu.

November Soybeans dropped 11 cents, or 1.14%, to 9.5725 bu.

Following an active weekend harvest, also due to profit-taking, Soybean futures started the week lower.

The CBOT Corn futures also suffered more than a 1% loss.

Spring Wheat is still under the pressure of the negative US Department of Agriculture (USDA) report, which pegged the US Wheat stocks at 2.25-B bu, compared to the average trade estimate of 2.20-B bu. The Wheat futures continued its downturn Monday for the 3rd session running.

A strong USD added more pressure to its agricultural commodities, making American grains less competitive

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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