Chicago Agriculture Commodities Finished Mixed
$SOY, $WEAT, $CORN
Chicago Board of Trade (CBOT) agriculture commodities finished mixed Friday, with soybean futures ending at record lows on ongoing US-Sino trade frictions.
The most active Corn contract for December delivery went down 4.5c, or 1.25% to close at 3.5475 bu.
November Soybean delivery dropped 15c, or 1.77% to close at 8.3425 bu.
September Wheat delivery added 12.5c, or 2.58% to close at 4.97 bu.
In total, November Soybean futures dove 60.25c on the week, or 6.74%, which is rare.
The USDA in its monthly World Agricultural Supply and Demand Estimates Report pegged Soybean exports at 2.04-B bu, down from the June outlook for 2.29-B bu.
Soybean stockpiles at the end of the MY 2018-2019 were raised to 580-M bu from 385-M bu by the USDA.
Corn futures followed Soybeans lower, with additional pressure from a favorable weather forecast for much of the US Midwest crop.
Wheat Futures rose for a 2nd straight day as crop production shortfalls in the EU and Black Sea region fueled concerns about tightening global stocks.
Have a terrific week.
Latest posts by Paul Ebeling (see all)
- Senator Lindsey Graham Gave Rousing Speech Saturday Night at Mar-a-Lago - March 24, 2019
- Islamic State “Caliphate” Defeated - March 24, 2019
- The State of Boeing (NYSE:BA) in Crisis - March 24, 2019