Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) grains futures finished mixed Wednesday with Corn and Soybean higher as weather forecasts remain dry for much of the Midwest.

The most active Corn contract for December delivery added 2.5 cents, or 0.65%, to 3.8625 bu/

September Wheat delivery went up 2.5 cents, or 0.55 percent to 4.595 bu.

November Soybean stayed unchanged at 9.7375 bu.

CBOT brokers estimate that funds have sold 2,400 contracts of Wheat, 2,600 contracts of Corn and 2,400 contracts of Soybean.

The funds have been taking off risk in light volume ahead of the United States Department of Agriculture(USDA) report.

The reports will include the USDA’s first assessments of the MY 2017 US Corn and soybean crops based on field surveys, and agriculture analysts expect the government to lower its yield forecasts for both crops

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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