Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) grains futures finished mixed Tuesday amid different crop progress between US Corn and Soybean.

The most active Corn contract for December delivery rose 1.5 cents, or 0.43%, to 3.5275 bu.

December Wheat delivery went up 1.25 cents, or 0.29%, to 4.38 bu.

November Soybean fell 5.25 cents,or 0.54%, to 9.755 bu.

The US Department of Agriculture (USDA) Monday released its latest crop progress report. The report indicated a delayed Corn harvest, with only 38% complete, compared to an average of 59% between Y’s 2012 and 2016.

Meanwhile, the report put US Soybean harvest at 70% complete, just 3% down from the 5-year average and almost kept up the pace.

It was also estimated that by next week, Soybean harvest will be close to 90% complete, and Corn harvest will advance beyond 50 percent complete.

The data boosted Chicago Corn prices while pushing down Soybean futures during Tuesday’s session.

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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