Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures finished  mixed Wednesday with Corn and Soybean posting more-than 1% gainers.

The most active Corn contract for December delivery rose 5.5 cents, or 1.41%, to 3.9625 bu.

September Wheat delivery dropped 0.75 cent, or 0.15% to 5.03 bu.

November Soybean went up 10.75 cents, or 1.07%, to 10.125 bu.

CBOT brokers estimated that funds bought 4,500 contracts of Corn and 5,300 contracts of Soybean, while selling 3,200 contracts of Wheat.

Traders were afraid that the mostly hot and dry weather model would affect the yields of Corn and Soybean, which pushed their prices much higher.

The Wheat futures, however, saw decline for the 6th session running due to the ample Winter Wheat stockpiles in the US and expectations for another good harvest this year in Europe.

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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