Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed


Chicago Board of Trade (CBOT) Corn and Wheat finished higher Monday, Soybean fell on profit taking to open this week.

The most active Corn contract for May delivery added 2.50 cents, or 0.66%, to close at 3.81 bu.

May Wheat delivery advanced 13 cents, or 2.83%, to close at 4.7275 bu.

May Soybean declined 1.75 cents, or 0.18%, to close at 9.5425 bu.

Wheat futures saw their biggest daily advance Monday since 26 October 2015 after they rose 3.77%, based on short covering.

CBOT floor brokers reported that funds have bought 9,000 contracts of Wheat, a Chicago-based agriculture consultancy, reported in its mid-day commentary.

Corn extended gains as traders were expecting the ongoing dryness in Brazil will hamper winter Corn there, prompting short covering in the Corn market Monday. Funds had bought 11,000 contracts of Corn before mid-day, according to the data.

Soybean closed a bit lower into the close on profit taking Monday after being higher much of Monday’s US session.

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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