Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished mixed Tuesday, with Wheat futures dropping 1% on technical selling and abundant global stockpiles.

Soybean futures were slightly higher, hovering near 6-week highs on warm and dry conditions that stressed the developing crop in Argentina, world’s largest producer after the US and Brazil.

The most active Corn contract for March delivery fell 0.75c, or 0.21%, to close at 3.5125 bu.

March Wheat delivery went down 4.25c, or 1.0%, to close at 4.25 bu.

March Soybean added 2c, or 0.2% to settle at 9.8625 bu.

Export inspections were higher for Corn and Soybean last week while lower for Wheat, the US Department of Agriculture (USDA) said in a report Tuesday.

Inspections of Corn for delivery to overseas buyers rose to 668,946 tonnes in the 7 days that ended 18 January, according to the USDA.

Soybean assessments totaled 1.42-M tonnes, up from 1.24-M a week earlier and 1.30-M during the same week in Y 2017, the government said.

Wheat inspections fell to 337,980 tonnes last week Vs. 369,749 tonnes 7 days earlier, USDA data show.

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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