Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower

Chicago Agriculture Commodities Finished Lower

$SOY, $WEAT, $CORN

Chicago Board of Trade (CBOT) agriculture commodities finished lower Thursday on profit-taking following days of rises.

The most active Corn contract for July delivery fell 4.25c, or 1.04% to settle at 4.0425 bu.

July Wheat delivery went down 0.75c, or 0.14% to close at 5.3025 bu.

July Soybean were down 3.5c, or 0.34% to settle at 10.3575 bu.

CBOT futures continued to post gainers in the morning. Then into the close, profit-taking reversed the upturn, especially of the Corn and Soybean, which rose significantly in the past 4 trading days.

CBOT Wheat prices stayed relatively firm amid concerns over dryness threatening Canada, Australia and the Black Sea area, all Wheat growing regions.

Thursday, the US Department of Agriculture (USDA) released weekly export sales report, showing strong Wheat business.

The export sales of Wheat were at 452,300 tonnes, compared with the trade’s estimate of 100,000 to 400,000, offering support to CBOT Wheat futures on the day.

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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