Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) grains futures finished mixed Wednesday with Soybean futures rising to a 1-week high on concerns that the US Department of Agriculture (USDA) might lower its forecast of the domestic Soybean yield in a monthly report next week.

Corn firmed along with Soybeans, with firm cash markets lending support. Wheat drifted lower but the bellwether December contract held above a contract low set Tuesday.

The most active Corn contract for December delivery rose 2.5 cents, or 0.72%, to 3.4825 bu.

December Wheat delivery fell 0.5 cent, or 0.12%, to 4.18 bu.

January Soybean rose 6.5 cents, or 0.66%, to 9.9125 bu.

Agriculture analyst say. “the new month is driving the Soybean rally”.

CBOT floor brokers report that funds bought 6,000 contracts of Corn, 2,400 contracts of Wheat, and 5,000 contracts of Soybean Wednesday.

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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