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.