Chicago Agriculture Commodities Finished Mixed Friday
$CORN, $SOYB, $WEAT
Chicago Board of Trade (CBOT) Corn and Soybean rebounded Friday, and Wheat extended losses on stronger USD.
The most active Corn contract for Jul delivery added 4.50 cents, or 1.15%, to close at 3.945 bu.
Jul Wheat delivery lost 1 cents, or 0.21% to settle at 4.6775 bu.
Jul Soybean gained 2.75 cents, or 0.26%, to close at 10.7425 bu.
On the week, Corn, Soybean advanced 0.96, 0.87% respectively, Wheat declined 1.47%.
Agriculture analysts said that Corn rebounded on fresh export news.
The US Department of Agriculture (USDA) said Friday morning that private exporters reported export sales of 125,000 tonnes of Corn for delivery to Colombia during MY 2015/2016.
USDA said in its weekly export sale report Thursday that Corn net sales reached 1,473,100 tonnes till week of 12 May, which were up 33% from the previous week and 13% from the prior 4-wk average.
Soybean futures witnessed its 6th consecutive weekly gainer Friday and analysts attributed Soybean’s gains to the strength in Soybean meal. US Soybean meal futures climbed to their highest prices in 18 months Friday as concerns about tightening exports from Argentina.
However, the USD rose Vs most peers Friday, extending pressure on wheat futures as traders thought that a stronger USD may curb export sales.
Have a terrific week.
Latest posts by Paul Ebeling (see all)
- Gold & Silver in 1 Word: Buy - February 23, 2020
- Ferrari’s (NYSE:RACE) Portofino Does 0-100 KM/H in Acceleration Test - February 23, 2020
- Milan Fashion Week Carries On… - February 22, 2020