Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago agriculture commodities finished mixed Thursday with Corn futures falling to new contract lows as lower-than-expected weekly export sales and abundant supplies weighed on the market.

The most active Corn contract for December delivery went down 1.75 cents, or 0.52%, to 3.365 bu.

December Wheat delivery rose 1.5 cents, or 0.36%, to 4.215 bu.

January Soybean dropped 4.25 cents, or 0.44% to 9.72 bu.

Soybean also declined on disappointing weekly US Department of Agriculture (USDA) export sales data and as improving crop weather in Brazil raised prospects that the world’ s Top Soybean exporter would produce another bumper crop.

Wheat futures edged higher in a modest rebound from Wednesday’ s technically driven slide and on expectations for reduced plantings in Europe.

As for international markets

Egypt’s General Authority For Supply Commodities is tendering for world Wheat for early Y 2018 shipment and received 6 offers from exporters. The lowest price is 194.55/tonne, which is up about 2.00 from their tender of last week.

Russian FOB wheat prices are down 1 to 1.50/tonne, so the exporters added 3 to 3.5/tonne to account for phytosanitary uncertainty regarding ergot and other Wheat quality specs.

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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