Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed


Chicago Board of Trade (CBOT) Corn settled higher Monday, Wheat and Soybeans fell to open this week.

The most active Corn contract for Jul delivery added 7 cents, or 1.65%, to close at 4.30 bu.

July Wheat delivery lost 3.75 cents, or 0.76%, to settle at 4.9125 bu.

Jul Soybean fell 9.25 cents, or 0.79%, to close at 11.69 bu.

Analysts noted that Corn advanced as hot and drier weather is forecast in the US Midwest and Southern Plains, prompting expectations that it may dent the progress of Corn there.

Meanwhile, Short covering also supported Corn Monday. According to a Chicago-based agriculture consultancy. CBOT brokers estimated that funds had bought 14,000 contracts of Corn before mid-day Monday.

Wheat settled lower for the 3rd trading day running Monday, and agriculture analysts noted that the US Wheat harvest started in some states in the US Midwest and Southern Plains, weighing on Wheat as new supplies will come to market.

Soybean retreated on profit-taking Monday after it reached near a 2-year high Friday, according to agriculture analysts.

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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