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 wheat prices rebounding following a 3-consecutive-day decliner.

The most active Corn contract for December delivery fell 2 cents, or 0.57%, to 3.495 bu.

December Wheat delivery rose 3.25 cents, or 0.73%, to 4.48 bu.

November Soybean went down two cents, or 0.21%, to 9.5525 bu.

The Corn and Soybean futures had posted gains last Friday when a Quarterly report released by the US Department of Agriculture (USDA) put both stocks below average trade estimates.

However, the on-going harvests of US Corn and Soybean pressure their prices, which are usually at seasonal low.

Wheat futures, which suffered losses for 3 sessions running due to last Friday’s negative stocks report, rallied Tuesday.

Egypt reported that it purchased 3 cargoes of Wheat from Russia Tuesday at an average FOB price of 199.o per tonne, 2.0 higher than an average price 2 weeks ago.

Along with the recent rally in Black Sea grain quotes, the price increases in world Wheat market gave additional support to the CBOT Wheat futures.

Stay tuned…

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