Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago agriculture commodities finished mixed Thursday with Corn futures rising on fresh export demand and bargain-buying.

Wheat futures firmed, stabilizing after a series of contract lows in recent days, Soybean ended fractionally lower after a choppy session.

The most active Corn contract for March delivery went up 2.25 cents, or 0.64%, to 3.5575 bu.

March Wheat delivery fell 1.75 cents, or 0.4%, to 4.33 bu.

January Soybean dropped 6.75 cents, or 0.68% to 9.8575 bu.

Thursday, the US Department of Agriculture (USEA) Weekly Export Sales Report showed lackluster demand, except for Soybean.

As for Vegetable Oil markets, the US Environmental Protection Agency is saying this week that it will maintain the US conventional biofuel mandate at 15-B gals,-mostly Ethanol, the same as the current year, and keep the biodiesel mandate at 2.1-B gals for Y’s 2018 and 2019.

Biodiesel groups have been heavily lobbing US government to raise the Y 2019 mandate to 2.4-2.6-B gals based on additional capacity, but such an increase was not approved

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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