Chicago Agriculture Commodities Finished Mixed at the Weekend

Chicago Agriculture Commodities Finished Mixed at the Weekend

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished mixed Friday, with Soybean futures rising, on precieved trade tensions between China and the United States.

Wheat futures rallied with concerns about cold weather posing threat to winter Wheat in the drought-affected US Plains.

Corn futures fell slightly on traders’ technical selling.

The most active Corn contract for May delivery fell 1c, or 0.26% at 3.885 bu.

May Wheat delivery went up 7.5c, or 1.61% to close at 4.7225 bu.

May Soybean rose 2.5c, or 0.24% to settle at 10.3375 bu.

US President Donald Trump said Thursday he has asked the US Trade Representative to consider slapping $100-B of additional tariffs on China, ratcheting up trade tensions and causing some economic uncertainty.

China will fight “at any cost” and take “comprehensive countermeasures” if the United States continues its unilateral, protectionist practices, a spokesperson with the Chinese Ministry of Commerce said Friday.

The moves came after both sides earlier this week unveiled a list of products worth $50-B imported from the other side that will be subject to higher tariffs.

The US Department of Agriculture (USDA) Friday said private exporters reported 100,000 tonnes of Corn for delivery to Egypt ,and 130,632 tonnes of Soybean for delivery to Mexico.

Have a terrific week

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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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