Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Higher

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures finished higher Thursday with Corn and Soybean rallying on bargain hunting.

The most active Corn contract for May delivery rose 2.5 cents, or 0.69%, to 3.66 bu.

May Wheat delivery settled flat at 4.36 bu.

May Soybean went up 3.5 cents, or 0.35%, to 10.015 bu.

Corn was mainly boosted by the weekly US export sales through the week ending 9 March, which included 49-M bu Corn, compared to 29-M 1 week ago.

Soybean, thanks to bargain buying, reversed an 8-session decliner due to record-high South American crop estimates. The May contract is now back above the psychological 10 bu mark.

Wheat for May delivery closed unchanged but freezing temperature in Illinois, Missouri, Arkansas and other states are reportedly threatening soft-red winter Wheat, which is emerging from Winter dormancy.

A good news for US agriculture grain crops is that the weakening USD, at its lowest mark in about a month, can provide overseas buyers with more purchasing power, agriculture analysts said.

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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