Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago agriculture commodities finished mixed Wednesday with winter-kill concerns continuing to push up Wheat prices.

The most active Corn contract for March delivery edged down 0.25c, or 0.07%, to settle at 3.53 bu.

March Wheat delivery rose 2.5c, or 0.58%, to close at 4.36 bu.

March Soybean went up 4c, or 0.41%, to settle at 9.6875 bu.

CBOT brokers reported that funds sold 2,000 contracts of Corn and 500 contracts of Soybean, while buying 1,200 contracts of Wheat.

Winter-kill remained a major concern when it came to the Wheat.

The severe cold in the past week combined with dry conditions will probably bring some winter-kill damage, said market observers.

It has been reported that widespread winter-kill has occurred across southeastern Colorado, much of Kansas, far northern Oklahoma, central Missouri, southern Illinois and southwestern Indiana.

According to weather forecasts, temperatures are expected to rise across the country towards this weekend.

However, another cold front may be moving into the eastern Midwest. If there is not a layer of snow to cover the plants, there will be more risks of winter-kill.

The heat and dryness in Argentine pushed up Soybeans Wednesday, while technical selling led to the retreat of Corn prices, said agriculture analysts.

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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