Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed


Chicago Board of Trade (CBOT) agriculture commodities finished mixed Thursday, with Corn futures jumping more than 1% as the US Department of Agriculture (USDA) lowered US Corn stockpiles in its monthly crop report.

CBOT Soybean futures were lower following the mid-day monthly USDA data that predicted larger-than-expected ending stocks, due in part to reduced export.

The most active Corn contract for May delivery added 6.25c, or 1.61% to close at 3.935 bu.

May Wheat delivery rose 2c, or 0.4% to close at 4.9925 bu.

May Soybean went down 1.25c, or 0.12% to close at 10.64 bu.

In its monthly supply and demand report for March, the USDA pegged the US 2017/18 Corn ending stocks at 2.172-B Bu, Wheat at 1.034-b Bu, and Soybean at 555-M Bu.

As for international market, Brazil’s agricultural agency Conab Wednesday boosted its Soybean crop estimate by 1.5-M tonnes and pared its Corn production estimate to 87.3-M tonnes for the MY 2017-18.

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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