Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower


Chicago Board of Trade (CBOT) agriculture commodities finished lower Monday with soybean futures seeing ups and downs in a choppy session.

The most active Corn contract for May delivery fell 3.25c, or 0.86% to settle at 3.74 bu.

May Wheat delivery lost 6c, or 1.30% to close at 4.5425 bu.

May Soybean were down 2.75c, or 0.27% to settle at 10.255 bu.

CBOT brokers reported that funds sold 6,000 contracts of Corn and 3,600 contracts of Wheat, while buying 2,500 contracts of Soybean.

Funds were early buyers of Soybean, but turned sellers at midday.

Soybean prices reversed the uptrend at midday amid concerns that the US Department of Agriculture (USDA) will probably increase its forecast for acreage in this week’s prospective plantings report, and further declined into negative territory.

CBOT Corn and Wheat also posted losses Monday.

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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