Chicago Agriculture Commodities Finished Mixed
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) agriculture commodities finished mixed Thursday with Soybean rising over better-than-expected export sales.
The most active Corn contract for May delivery rose 1.75c, or 0.45% to settle at 3.8875 bu.
May Wheat delivery went down 6.25c, or 1.28% to close at 4.81 bu.
May Soybean were up 13c, or 1.24% to settle at 10.6075 bu.
CBOT floor brokers reported that funds bought 4,500 contracts of Corn, 5,000 contracts of Soybean, while selling 5,500 contracts of Wheat.
Thursday the US Department of Agriculture (USDA) released its weekly export sales report for the period of 30 March to 5 April, which showed Soybean sales beat expectations, Corn within and Wheat below expectations.
The USDA reported export sales of 2,464,500 tonnes of Soybean, while the trade’s expectation was between 800,000-1,700,000 tonnes.
The Wheat sales stood at 188,700 tonnes with the trade’s expectation of between 250,000-650,000 tonnes.
Recently lowered estimates of US Soybean ending stocks and decreased Argentine crop projection offered additional support to the Soybean prices.
Meanwhile, improved weather forecasts with rain for the central US plains and sharply rising temperatures for the Midwest gave more pressure on CBOT Wheat futures, said market agriculture analysts.
Have a terrific weekend.
Latest posts by Paul Ebeling (see all)
- California Wildfires Rage, 31 Known Dead, Over 200 Still Missing and Unaccounted For - November 12, 2018
- Medical Marijuana Update - November 12, 2018
- The Big Q: Is Debt Good or Bad? - November 12, 2018