Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago agriculture commodities finished mixed Tuesday with Corn futures falling to a record low on technical selling and ample global supplies.

Soybean also fell as slightly wetter forecasts for crop areas of Argentina eased near-term concerns about dryness.

Wheat closed higher on bargain-buying after most months sank to contract lows.

The most active Corn contract for March delivery went down 2 cents, or 0.57%, to 3.4975 bu.

March Wheat delivery rose 1 cent, or 0.23%, to 4.2925 bu.

January Soybean dropped 3 cents, or 0.3% to 9.93 bu.

As for other major exporters

The Argentine weather forecast is similar to the midday forecast Monday in that 60-65% of the Argentine crop areas will enjoy rain from 2 slow moving storm systems in the next 5 days.

Regular rains look to drop across North and Central Brazil with dryness continuing to worsen across South Brazil. Limited rains are foreseen for Southern states for the next 2 weeks.

Stay tuned…

 

 

 

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