Chicago Agriculture Commodities Finished Lower Friday

Chicago Agriculture Commodities Finished Lower Friday

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished lower Friday as traders managed to lock in profits before the long President’s Day weekend.

The most active Corn contract for March delivery edged down 0.25c, or 0.07% to settle at 3.675 bu.

March Wheat delivery went down 4c, or 0.87% to close at 4.5775 bu.

March Soybean fell 2.75c, or 0.27% to settle at 10.215 bu.

Deepening drought in Argentina and dryness in southern US plains had pushed up CBOT Soybean and Wheat futures very high. The prices started to drop Friday morning amid profit-taking, ahead of a 3-day weekend in the US.

CBOT was closed Monday, the President’s Day.

The prices of CBOT Corn futures were almost unchanged Friday.

Meanwhile, the weak USD bounced Friday, with .DXY rising 0.57% to reach 89.13 as of 2212 GMT. If USD continues to rally, it will affect the competitiveness of US agriculture products in international markets.

Have a terrific week.

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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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