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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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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