Chicago Agriculture Commodities Finished Lower Monday

Chicago Agriculture Commodities Finished Lower Monday


Chicago Board of Trade (CBOT) Corn, Wheat and Soybean all retreated and finished lower Monday.

The most active Corn contract for Jul delivery lost 8.50 cents, or 2.25%, to close at 3.69 bu.

Jul Wheat delivery shed 7.25 cents, or 1.56%, to close at 4.565 bu.

Jul Soybean fell 8.25 cents, or 0.80%, to close at 10.265 bu.

Agriculture analysts said that a stronger Buck pressed the USD-dominated US Corn, Wheat and Soybean lower Monday, as a stronger USD make them more expensive to outside buyers.

Additionally, technical selling also extended pressure to Corn, Wheat and Soybean after their Friday gains on Monday.

CBOT brokers estimated that funds have sold 7,000 contracts of Corn, 4,500 contracts of Wheat and 8,000 contracts of Soybean, according to the report of a Chicago-based agriculture consultancy.

The US Department of Agriculture (USDA) said Monday that private exporters reported export sales of 170,000 tonnes of Corn for delivery to Japan and export sales of 120,000 tonnes of Corn for delivery to unknown destinations, both during MY 2015/2016.

Stay tuned…

Paul Ebeling

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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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