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 Soybean continuing to fall due to improved weather and profit-taking.

The most active Corn contract for December delivery fell 0.5 cent, or 0.14%, to 3.50 bu.

December Wheat delivery went down 1.75 cents, or 0.40%, to 4.3475 bu.

November Soybean declined by 6.25 cents, or 0.63%, to 9.8475 bu.

CBOT floor brokers reported that funds bought 2,000 contracts of Corn, sold 4,000 contracts of Soybean, while were flat Wheat.

Profit-taking in the past 2 sessions sent Soybeans back below 10.0 bu.

Meanwhile, the improved weather after days of thunderstorm in US Mideast allowed farmers to continue the delayed harvest.

Russian wheat exports have been large so far in October.

Some agriculture analysts are now raising their annual exports of Russian Wheat to 34 tonnes, while the US Department of Agriculture (USDA)has put its estimate at 32.5-M tonnes.

Corn market was relatively calm Tuesday, with its prices remaining almost unchanged.

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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