Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago agriculture commodities finished mixed Tuesday as investors continued to square positions ahead of Thursday’s supply and demand report from the US Department of Agriculture (USDA).

The most active Corn contract for December delivery fell 0.25 cent, or 0.07%, to 3.4775 bu.

December Wheat delivery declined by 3.5 cents, or 0.81%, to 4.2725 bu.

January Soybean went up 2 cents, or 0.20% to 9.96 bu.

CBOT floor brokers reported that funds bought 3,500 contracts of Soybean, while selling 4,400 contracts of Corn and 2,500 Wheat.

The USDA monthly crop report Thursday is expected to confirm enlarged US Corn yields with a decline in the Soybean crop estimate.

In parallel with the expectation, the CBOT Corn futures continued its downturn for the 2nd day running and Soybean went on with gains.

As for Chicago Wheat, the prices fell due to a firmer USD, which would make it less competitive in international market.

Profit-taking following a sharp rise in the prior session also played a role.

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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