Chicago Agriculture Commodities Finished Mixed Friday

Chicago Agriculture Commodities Finished Mixed Friday

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures finished mixed Friday with Corn futures drifting to a 1-week low as traders adjusted positions ahead of a monthly US government report that analysts expect to show rising grain inventories and big South American crops.

Soybean closed narrowly mixed but the most-active contract posted a 5th weekly decliner, its longest losing streak in 30 months, weighed down by rising global supplies.

Wheat ended flat to little changed after a choppy session.

The most active Corn contract for May delivery fell 1.25 cents, or 0.35%, to 3.595 bu.

May Wheat delivery rose 0.75 cents, or 0.18% to 4.24 bu.

May Soybeans was up 0.5 cents, or 0.05%, to 9.42 bu.

The geopolitical news iaffected the grain market’s attitude Friday.

“Strong weekly export sales could not muster a rally and the market faded after finding no bullish news out there. Soybeans are a bit lower this morning, after the attack on Syria put some uncertainty back in the market. When there are big unknown factors, the market has a tendency to drift lower,” 1 agriculture analyst stated in a daily note to his clients.

Have a terrific week.

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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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