Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$WEAT, $CORN, $SOYB

Chicago Board of Trade agriculture grains futures finished mixed Tuesday following the release of the latest ending stocks report.

The monthly agriculture grains supply and demand estimates issued Tuesday by the US Department of Agriculture (USDA) reduced US feed consumption and higher South American crops.

Most of the USDA’ s estimates, domestic and international, fell in line with trade expectations.

The most active Corn contract for May delivery fell 0.5 cent, or 0.14%, to 3.665 bu.

May Wheat delivery up 4.5 cents, or 1.05%, to 4.3325 bu.

May Soybean were down 2.5 cents, or 0.27%, to 9.3925 bu.

US Corn ending stocks were unchanged, as reduced feed use was offset by a hike in Ethanol demand. Meanwhile, the world Corn ending stocks increased by 1.05% last month.

Both the US and the world soybeans ending stocks have risen slightly with the combined Brazilian and Argentine Soybean production being raised 3.5-M tonnes (MMTs) to a record 167 MMTs.

World Wheat stocks were raised again, to 252 MMTs, up 2.3 MMTs. However, Wheat futures closed higher as traders covered Short positions, agriculture analysts noted.

The US Financial markets are closed for Good Friday, have a terrific Easter 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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