Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$SOYB, $CORN, $WEAT

Chicago Board of Trade (CBOT) agriculture commodities finished mixed Wednesday, with Soybean futures dropping nearly 2% on profit taking and some uncertainty of China-US trade consultations.

Wheat futures ticked higher on short-covering, recovering from a 3-week low hit Tuesday, while Corn edged lower.

The most active Corn contract for July delivery fell 3c, or 0.75% to close at 3.9925 bu.

July Wheat delivery added 0.75c, or 0.15% to close at 4.9425 bu.

July Soybean delivery dropped 19c, or 1.87% to close at 9.9975 bu.

Wednesday, CBOT brokers reported that funds sold 7,000 contracts of Soybean, 2,500 contracts of Corn, and 3,200 contracts of Wheat.

As weather forecasts for international market, showers are slated to fall across the winter Corn areas of South America through the weekend.

Black Sea winter Wheat areas will receive near normal rain over the next 10 days with dryness deepening a drought across Australia.

The Canadian Prairies are turning parched and will have to be closely monitored.

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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