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.

  active, agriculture, Corn, delivery, farmers, global, market, SOY, supplies, tariffs, trade, WEAT

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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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