Chicago Agriculture Commodities Finished Mixed Monday

Chicago Agriculture Commodities Finished Mixed Monday


Chicago Board of Trade (CBOT) agricultural commodities close mixed Monday, with Soybean extending losses on fund selling, favorable weather.

Wheat futures were slightly higher, lifted by crop concerns in Europe, Corn prices fell slightly.

The most active Corn contract for December delivery fell 0.5 cents, or 0.15%, to 3.4125 bu.

Sept Wheat delivery rose 3.75 cents, or 0.88%, to 4.29 bu.

November Soybean declined 22 cents, or 2.23%, to 9.6625 bu.

Speculative investors have built up a large net long, aka Bullish stake in Soybean futures, compared with Bearish net short bets in both Corn and Wheat, according to US Commodity Futures Trading Commission (CFTC) data released Friday.

With extended weather outlooks showing normal amounts of precipitation in the Midwest crop belt, investors were unwinding those long positions, agriculture analysts said.

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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