Chicago Agriculture Commodities Finished Mixed

 

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures finished mixed Tuesday with managed funds keeping their net short positions.

The most active Corn contract for December delivery fell 2.25 cents, or 0.64%, to 3.4875 bu.

December Wheat delivery rose 1.75 cents, or 0.41% to 4.2975 bu.

November Soybean went down four cents, or 0.42 percent, to 9.3725 bu.

Managed money’s position Tuesday morning in Chicago Wheat was estimated at a net short 70,000 contracts.

In Corn, it’s pegged at net short 50,000 contracts, with net short 30,000 contracts in Soybean.

Private exporters have reported to the US Department of Agriculture (USDA) their export sales of 198,000 tonnes of Soybean for delivery to China, and 226,000 tonnes of Corn to Mexico.

The news failed to lift the futures’ prices, which are seasonally low.

Wheat prices rallied following a more-than 1% fall in the prior session, as a result of bargain-buying. Egypt reportedly secured 235,000 tonnes of wheat for early October delivery from Russia and Ukraine, which also boosted the Wheat futures.

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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