Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower

$CORN, $WEAT, $SOYB

Chicago agriculture commodities finished lower Thursday following days of rises due to extreme weather conditions in North and South America.

The most active Corn contract for March delivery fell 2c, or 0.57%, to settle at 3.51 bu.

March Wheat delivery went down 2c, or 0.46%, to close at 4.34 bu.

March Soybean edged down 1c, or 0.10 percent, to settle at 9.6775 bu.

CBOT brokers reported that funds sold 4,500 contracts of Corn, 4,100 contracts of Soybean and 2,400 contracts of Wheat.

The severe cold that hit Wheat-growing US areas in the past week had pushed up Wheat futures sharply. Profit-taking Thursday ended the upturn during the past 2 sessions.

Although temperatures started to rise in the US southern plains, forecasters warned that more extreme weather is on the way for parts of the far eastern edge of the Winter Wheat belt, which may cause further damage.

Argentine heat and dryness had supported Soybean prices for some days, and massive selling led to the retreat of Soybean, said agriculture analysts.

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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