Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago agriculture commodities finished mixed Thursday with Soybean posting double-digit losses amid rainfall forecast for Argentina.

The most active Corn contract for March delivery edged down 0.5 cent, or 0.14% to settle at 3.485 bu.

March Wheat delivery rose 1.5 cents, or 0.36%, to 4.1825 bu.

January Soybean went down 11.5 cents, or 1.17% to close at 9.6775 bu.

CBOT brokers reported that funds bought 2,300 contracts of Corn and 2,100 contracts of Wheat, while selling 4,800 contracts of Soybean.

Soybeans closed more than 1% lower on weather forecast for rainfall in some areas of Argentina. Light showers are expected in eastern Argentina’s Soybean and Corn belts, where dry weather has prevailed.

The prices of Soybean futures have fallen back to the November lows.

Meanwhile, CBOT Wheat futures were supported by concerns about cold, dry weather in the southern US plains.

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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