Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) grains futures finished mixed Monday with Wheat futures turning lower on forecasts for crop-boosting rains in some areas of Brazil and as technical selling and month-end positioning weighed on the market.

Corn was steady and wheat futures fell for a 4th session running, with some Wheat contract months hitting fresh contract lows.

Prices for both agriculture grains were anchored by plentiful global supplies.

The most active Corn contract for December delivery stay unchanged at 3.535 bu.

December Wheat delivery fell 2.5 cents, or 0.59%, to 4.2475 bu.

January Soybean fell 2 cents, or 0.2%, to 9.845 bu.

Agriculture analysts says the markets will be reacting to this week’s US harvest progress and South America’s Soybean planting weather.

The rainfall this far in central and eastern Brazil has under-performed, and it has been hotter than normal. The forecast is for more rain later this week.

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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