Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) grains futures finished mixed Tuesday with Wheat futures falling to contract lows as technical selling pressure dragged prices lower for a 5th session running.

Corn followed wheat downward as harvesting of a bumper US crop progressed, while Soybean ended nearly unchanged.

The most active Corn contract for December delivery fell 3 cents, or 0.86%, to 3.4575 bu.

December Wheat delivery fell 6.25 cents, or 1.47%, to 4.185 bu.

January Soybean rose 0.25 cent, or 0.03%, to 9.8475 bu.

A agriculture commodities grain analyst said the farm markets Tuesday continue to trade in a narrow range.

Disappointing Soybean yields and solid demand are giving the soy complex some support. But the Corn market is softer with better yields. Plus, an open harvest forecast, weak USD, and good planting conditions in Brazil continue to give the market resistance.

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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