Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished mixed Monday, with Soybean futures surging 7c on Short-covering and dry weather in Key producer Argentina.

The most active Corn contract for March delivery fell 0.5c, or 0.14% to close at 3.52 bu.

March Wheat delivery went up 3c, or 0.71% to close at 4.2575 bu.

March Soybean added 7c, or 0.72% to settle at 9.8425 bu.

CBOT brokers report that funds on Monday have sold 4,400 contracts of Corn and 2,300 contracts of Wheat, while buying 4,100 contracts of Soybean.

The Commodity Futures Trading Commission (CFTC) said last Friday that money managers extended their net-Short positions for Soybeans to multi-month highs.

That has led some agriculture analysts to believe investors will buy back their contracts and close their positions at the 1st sign of Bullish news.

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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