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 Soybean rebounding amid worries that rains would slow down harvest in the US Midwest.

The most active Corn contract for December delivery fell 1.25 cents, or 0.36%, to 3.4825 bu.

December Wheat delivery dove 6 cents, or 1.34% , to 4.42 bu.

November Soybeans rose 3 cents, or 0.31%, to 9.5825 bu.

CBOT Soybean found strength from strong demand from foreign buyers. Traders were also worried that rains in the US Midwest would influence Soybean harvest negatively. All the factors led to the rally of Soybean prices.

Although world Wheat prices have rallied substantially over the last 3 weeks, fierce competition is putting significant pressure on its futures.

Corn prices were also lower Wednesday, despite the good news that US weekly Ethanol production ending last Friday totaled 297-M gals, up 4-M gals when compared with the prior week.

The US Department of Agriculture (USDA)is expected to release Thursday the latest weekly export sales data, which will impact the futures prices

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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