Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower

$CORN, $WEAT, $SOYB

Chicago agriculture commodities finished lower Thursday despite upbeat export sales data.

The most active Corn contract for March delivery fell 1.25 cents, or 0.35%, to settle at 3.515 bu.

March Wheat delivery went down 3.75 cents, or 0.88%, to 4.215 bu.

January Soybean lost 10.75 cents, or 1.07%, to close at 9.92 bu.

The US Department of Agriculture (USDA) released its weekly export sales report Thursday, showing that Soybean sales beat trade expectations.

USDA put weekly soybeans sales at 2.08-M tonnes, well above the trade’s expectations between 900,000 and 1.7-M tonnes.

However, the export data failed to support CBOT Soybean, which had posted sharp gains earlier this week amid concerns over dry weather forecasts for Argentina and southern Brazil.

Profit-taking further trimmed the gains of Soybeans, sending the futures again below the 10.0 bu mark.

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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