Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed


Chicago Board of Trade (CBOT) agriculture grains futures finished mixed Tuesday with Soybean rising to a 4-month high, as investors returned to trading fundamentals after being lower most of the morning on Tuesday

The most active Corn contract for December delivery fell 0.5 cent, or 0.12%, to 4.1425 bu.

September Wheat delivery added 3 cents, or 0.55% to 5.53 bu.

November Soybean rose 4 cents, or 0.38 percent, to 10.4325 bu.

CBOT traders estimate that funds have sold 4,000 contracts of Corn and 3,000 contracts of Wheat, while being flat in Soybean. In Soy products, funds have sold 2,200 contracts of Soyoil and 1,900 contracts of Soymeal.

Hot, dry weather is expected to continue for at least the next week in much of the Northern Plains. Spotty showers have been reported in parts of Montana and North Dakota, but the heat will rebuild in the next few days, according to Commodity Weather Group.

Prices also chopped around as the US Department of Agriculture (USDA) will release its World Agricultural Supply and Demand Estimates and Crop Production reports Wednesday.

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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