Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago agriculture commodities finished mixed Monday following a see-saw session.

The most active Corn contract for March delivery fell 5.25 cents, or 1.46% to close at 3.535 bu.

March Wheat delivery went down 3.25 cents, or 0.74%, to 4.3525 bu.

January Soybean rose 4.25 cents, or 0.43% to 9.985 bu.

CBOT brokers reported that funds bought 4,700 contracts of Soybean while selling 12,000 contracts of Corn and 1,200 contracts of Wheat.

Almost all the futures opened higher in morning trading on concerns about dry weather in South America, which will not be conducive to the growth of crops.

But, Corn reversed from early gainers as a result of massive selling by funds and settled more than 1% lower.

CBOT Wheat futures also saw a fluctuating session Monday, starting out Green but sliding into Red.

However, the settlements appeared to be in parallel to the latest trend of US crop exports.

For the week ending 30 November, the US exported 23.1-M bu Corn, 15-M bu Wheat and 66.2-M bu Soybean. The Corn and Wheat exports were below the marks of agriculture grain trade expectations.

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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