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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