Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished mixed Thursday, with Corn and Wheat futures rising in largely technical-driven trading as investors awaited crop supply and demand estimates from US Department of Agriculture(USDA) due early Friday.

The most active Corn contract for March delivery added 1c, or 0.27%, to close at 3.6675 bu.

March Wheat delivery went up 4c, or 0.89%, to close at 4.5125 bu.

March Soybean fell 2.25c, or 0.22%, to close at 10.32 bu.

At its annual agricultural outlook meeting Thursday, the USDA pegged the US Y 2018 Corn and Soybean acreage at 90-M each, in line with analyst expectations.

As for international market, the main Argentine agricultural area will hold in an arid trend over the next 10-14 days. The Argentine drought is becoming acute, and rain is immediately needed to prevent a further sharp fall in crop yield potential.

Have a terrific weekend.

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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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