Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$WEAT, $CORN, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures finished mixed Tuesday with Wheat bouncing after a 2% decliner in the prior session.

The most active Corn contract for May delivery fell 4.75 cents, or 1.30%, to 3.6175 bu.

July Wheat delivery climbed 1.25 cents, or 0.29% to 4.37 bu.

May Soybean was down 7.25 cents, or 0.76%, to 9.46 bu.

As a result of this week’s rainfall, the ground is reportedly pretty wet in the US Corn belt. But meteorologists say there will be 5 dry days next week, long enough for Corn seeding.

The drier weather forecast has sent traders selling Corn and Soybean.

On CBOT platform, funds sold 7,000 contracts of Corn and 6,500 contracts of Soybean, while being net flat in Wheat, which suffered a 2% loss Monday.

Still, the mentality of the agriculture grains market remains Bearish on huge US and world supplies.

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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