Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities finished mixed Tuesday, with Corn futures falling despite a government report showed slow planting pace of US Corn.

Wheat futures rose on bargain buying with additional support stemming from a US Department of Agriculture (USDA) report that showed wheat ratings well below last year.

Soybean futures were higher too, with technical buyers stepping into the market after Monday’s decline. But gains were kept in check by concerns about new developments in a trade tension between the United States and China.

The most active Corn contract for May delivery fell 2.25c, or 0.59% to close at 3.8025 bu.

May Wheat delivery went up 4c, or 0.87% to close at 4.6625 bu.

May Soybean delivery added 4c, or 0.38% to close at 10.46 bu.

CBOT floor brokers report that funds Tuesday have sold 3,400 contracts of Soybean and 3,900 contracts of Corn, along with buying 900 contracts of Wheat.

As for weather patterns, snow was falling Tuesday morning across the eastern US lakes with low temperature being reported. The cold will linger into the weekend, and limited central US Spring planting will occur this week, according to the National Weather Service (NWS).

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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