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 Monday with Corn futures pacing the advance as funds pare massive Short position.

The most active Corn contract for May delivery rose 7.5 cents, or 2.09%, to 3.67 bu.

May Wheat delivery rose 4.75 cents, or 1.12% to 4.2875 bu.

May Soybean was down 0.25 cents, or 0.03%, to 9.4175 bu.

Most speculators and a lot of hedgers are sitting on the sidelines in here.

“It’s wet in ‘corn country’. So, there will be some more delays. It is a little early to get excited, but the market is very short right now and we are getting some position evening before the reports tomorrow and the rains,” says one agriculture grain analyst.

He added, “Wheat and soybeans not too exciting, both were higher overnight but are having trouble holding it today. I expect quiet markets today, more excitement tomorrow, then basically dying for the Easter Week.”

On Monday, the USDA announced a fresh Corn export sale.

Private exporters reported to the US Department of Agriculture (USDA) export sales of 101,600 tonnes of Corn for delivery to unknown destinations during MY 2016/2017.

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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