Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed


Chicago Board of Trade (CBOT) agriculture grains futures finished mixed Tuesday with Soybean futures firmed, recovering from weakness in overnight trading on technical buying on concerns about weather in Key South American growing regions.

The most active Corn contract for March delivery fell 1.75 cents, or 0.49%, to 3.5825 bu.

March Wheat delivery fell 0.5 cents, or 0.12%, to 4.2725 bu.

January Soybean added 10.5 cents, or 1.06%, to 10.0525 bu.

Corn eased as traders staked out positions ahead of the release of Key US Agriculture Department (USDA) supply/demand reports coming Thursday.

Wheat futures closed mostly lower, but the front-month Spring Wheat contract rose to a 1.5 yr high.

Moves in all 3 commodities were muted as traders were reluctant to make big bets ahead of the reports.

Improving weather forecasts for winter wheat development around the globe added pressure to the agriculture grains.

But expectations that the USDA reports will show a sharp cutback in US wWnter wheat seedings kept the declines in check.

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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