Chicago Agriculture Commodities Finished Mixed 

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished mixed Wednesday with Soybean futures gaining for the 3rd session running over drought in Argentina.

The most active Corn contract for March delivery edged up 0.5c, or 0.14% to settle at 3.6725 bu.

March Wheat delivery went down 5c, or 1.09%, to close at 4.5575 bu.

March Soybean rose 5.5c, or 0.54%, to settle at 10.1725 bu.

CBOT brokers reported that funds bought 6,000 net contracts of Corn, another 6,000 of Soybean while being flat in Wheat.

Weather forecasts have offered little relief for Argentine crops, with little or no rains expected to fall over the next 5 days.

As a result, prices of CBOT Soybean were driven higher.

Meanwhile, profit-taking and more favorable weather in the eastern US plains, pushed down Wheat prices, said agriculture analysts and savvy observers.

Stay tuned…

The following two tabs change content below.

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.

You must be logged in to post comments :  
CONNECT WITH