Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished lower Monday, with Wheat futures dropping over 3%, as much-needed rain and snow fell in dry areas of the southern US plains.

Soybean futures also tumbled as rainfall reached major exporter Argentina’s Soy belt, and Corn followed the week trend.

The most active Corn contract for May delivery fell 7.75c, or 2.02% to close at 3.75 bu.

May Wheat delivery went down 17c, or 3.63% to close at 4.5075 bu.

May Soybean dropped 27c, or 2.57% to close at 10.225 bu.

As for international market, rainfall is still expected on the weekend with totals of 0.25 to 1.25 ins. Such amount of rain could help stabilize crops, but it is unlikely to end the drought.

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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