Chicago Agriculture Commodities Finished Mixed 

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished mixed Tuesday, with Soybean futures rising, as market worried about hot and dry weather in Argentina.

Sizzling conditions in Argentina since November have prompted agriculture grain traders and analysts to slash harvest estimates, fueling projections that export business could shift to the United States from South America.

The most active Corn contract for March delivery fell 2c, or 0.54% to close at 3.655 bu.

March Wheat delivery went down 8.5c, or 1.86% to close at 4.4925 bu.

March Soybean rose 5c, or 0.49% to close at 10.265 bu.

CBOT brokers report that funds Tuesday have bought 1,400 contracts of Corn, 2,700 contracts of Soybean, while selling 2,500 Wheat. Funds are on the buy side of the CBOT and are expected to enter a net long Corn position by the end of this week.

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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