Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures closed mixed Thursday, with Soybean posting 1%+ gains for the 2nd session running.

The most active Corn contract for December delivery rose 2.75 cents, or 0.78%, to 3.5425 bu.

December Wheat delivery fell 0.25 cent, or 0.06%, to 4.43 bu.

November Soybean surged 15.5 cents,or 1.61%, to 9.76 bu.

CBOT floor brokers reported that funds bought 8,000 contracts of Soybean, 4,000 contracts of Corn and 1,400 contracts of Wheat.

The US Department of Agriculture (USDA) Thursday released its weekly export sales data, which put Corn sales at the high end of expectations, and Soybeans beat while Wheat missed targets.

Private exporters reported to the USDA their export sales of 198,000 tonnes of Soybean for delivery to China last week. The high demand for US Soybean led to sharp increases in their futures’ prices.

In the past 2 days, the CBOT Soybean futures have added 26 cents.

Have a terrific weekend.

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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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