Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished lower Tuesday with Wheat futures seeing more than 1% decliner as rain started to fall on the dry US plains.

The most active Corn contract for May delivery was Unchanged at 3.74 bu.

May Wheat delivery lost 5.25c, or 1.16% to close at 4.49 bu.

May Soybean were down 6c, or 0.59% to settle at 10.195 bu.

CBOT brokers reported that funds bought 2,100 contracts of Corn, 1,100 contracts of Wheat, while being flat in Soybean.

Rainfall in the mid-south plains is expected to ease the dryness there and improve crop conditions, said savvy market observers.

According to the US Department of Agriculture (USDA), some 13% of the hard-red winter Wheat crop in Kansas, the biggest US producer of the grain, was rated good or excellent as of 25 March, up from 11% the week prior.

Some 49% of the crop was rated poor or very poor, compared to 55% in the previous week.

As a result, the CBOT Wheat futures Tuesday suffered another 1%+ decliner for the 2nd day running.

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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