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 Monday with Soybean up 3% as US-China trade tensions eased.

The most active Corn contract for July delivery rose 0.25c, or 0.06% to settle at 4.0275 bu.

July Wheat delivery went down 11c, or 2.12% to close at 5.0725 bu.

July Soybean gained 26.75c, or 2.68% to settle at 10.2525 bu.

China is the top buyer of US Soybeans, as both countries have vowed not to launch a trade war against each other, CBOT Soybean prices spiked on the news.

The 2 countries issued a joint statement Saturday on trade consultations, saying both sides have agreed to take effective measures to substantially decrease the US trade deficit in goods with China, meaningfully increase US agriculture and energy exports, and strengthen cooperation on intellectual property protection, among others.

CBOT Soybeans’ rise of 2.68% was the biggest 1-day increase in the past 7 months, sending its price back above 10.0 bu.

Wheat futures posted double-digit losses Monday over profit-taking after a 4.17% rise at the end of last session, while Corn prices were flat to Unchanged.

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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