Chicago Agriculture Commodities Finished Higher

Chicago Agriculture Commodities Finished Higher

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) grains futures finished higher Thursday with Corn futures climbing to a 1-week high on bargain buying and improving export demand.

Soybean rose for a 2nd day running, and marked a 2-week high as expectations of lower US yields and rising demand from overseas buyers supported the market, while wheat rebounded from 6 straight lower sessions.

The most active Corn contract for December delivery rose 2.25 cents, or 0.65%, to 3.505 bu.

December Wheat delivery added 8 cents, or 1.91%, to 4.26 bu.

January Soybean went up 8 cents, or 0.81%, to 9.9925 bu.

According to data released by the US Department of Agriculture (USDA) Thursday, 1,356,360 tonnes of US Corn will be sold to Mexico in the current and next marketing years. The MY (marketing year) for Corn began Sept. 1.

The USDA will update its official US crop production estimates in a monthly report next week.

Have a terrific weekend.

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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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