Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished lower Wednesday, with Soybean futures dropping over 2% after China announced potential tariffs on US Soybean, Corn, Beef and other goods.

Chicago Corn futures also fell sharply, then recovered a portion of the losses.

The most active Corn contract for May delivery fell 7.5c, or 1.93% at 3.81 bu.

May Wheat delivery went down 1.75c, or 0.38% to close at 4.5575 bu.

May Soybean dropped 22.75c, or 2.19% to settle at 10.1525 bu.

Wednesday, China unveiled a list of products worth $50-B imported from the United States that could be subject to higher tariffs, including Soybean, Automobiles and chemical products.

The move was taken after The Trump Administration announced a proposed list of products subject to additional tariffs, which covers Chinese exports worth $50-B with a suggested tariff rate of 25%.

The date of implementation (if implemented) will depend on when/if the US government imposes the tariffs on Chinese products, China’s Ministry of Finance said

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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