Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOY

Chicago Board of Trade (CBOT) agriculture commodities finished mixed Thursday, with Wheat rising further on declining supply and Soybeans falling on trade tensions.

The most active Corn contract for December delivery rose 1.75c, or 0.46% to settle at 3.8125 bu.

September Wheat went up 2.25c, or 0.4% to close at 5.605 bu.

November Soybean were down 4.25c, or 0.47% to settle at 8.975 bu.

Concerns over trade tensions between the United States and China continued to drag down the Soybean price, which fell back below the 9.00 bu mark again.

The marketing director of Iowa Soybean Association, told Iowa Radio from a European market tour that other countries can hardly offset all the impact after China started to shun US Soybean because of trade tensions.

CBOT Wheat rose significantly amid rumors that Ukraine is considering an export tax or ban on its Wheat exports, as extreme weather conditions led to declining crop yields.

A later denial relieved the panic in market.

Still, CBOT Wheat prices have reached the highest marks since mid-July 2015.

CBOT brokers reported that funds bought 6,000 contracts of Wheat and 5,400 contracts of Corn, while selling 4,500 contracts of Soybean.

Have a terrific weekend

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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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