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 finished mixed Tuesday, with Soybean futures falling for a 2nd session running, on huge selling triggered by trade tensions.

The most active Corn contract for July delivery rose 2c, or 0.57% to close at 3.5225 Bu.

September Wheat delivery dropped 7.5c, or 1.53% to close at 4.83 Bu.

November Soybean delivery went down 8c, or 0.89% to close at 8.875 Bu.

Agriculture grain traders worried about the export prospect of US Soybean, as intensifying trade tensions between the US and China weighed on market sentiment.

Wheat futures sagged with the hard red Winter Wheat market hitting its lowest marks in 5 months on fund-driven Long liquidation and pressure from the harvest in the southern US Plains, traders said.

Weekly Crop Progress Report released Monday by the US Department of Agriculture, showed 77% of the US Corn, 73% of US Soybean, and 77% of US Spring Wheat crop were rated good to excellent condition.

According to the report, the next 3 weeks are critical for US Corn production with much of the US Corn crop being pushed by above normal temps.

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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