Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$SOY, $WEAT, $CORN

Chicago Board of Trade (CBOT) agriculture commodities traded mixed Monday, with Corn and Soybean futures dropping to fresh multi-month lows as widespread rains across the US midwest farm belt bolstered production outlooks for recently planted crops.

Wheat futures also eased as rainfall in western Australia took the edge off global weather worries, although declines were limited as dry weather persisted in other Key production areas around the world.

The most active Corn contract for July delivery fell 2.5c, or 0.63% to close at 3.915 bu.

July Wheat delivery fell 3c, or 0.57% to close at 5.2325 bu.

July Soybean delivery went up 2.75c or 0.27% to close at 10.2125 bu.

CBOT brokers estimate that funds Monday have sold 17,000 contracts of Corn, 8,000 to 9,000 contracts of Soybean, and 4,700 contracts of Wheat.

In Soy product futures, funds have sold 6,200 contracts of Soymeal and bought 1,700 contracts of Soyoil.

The US Department of Agriculture (USDA) said last week that about 75% of the US Corn and Soybean crops were in good or excellent condition.

Fund managers sharply decreased their bets on higher prices for Corn and Soybean last week, according to the Commodity Futures Trading Commission of USDA.

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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