Chicago Agriculture Commodities Finished Mixed on the Week

Chicago Agriculture Commodities Finished Mixed on the Week

$CORN, $WEAT, $SOYB

Chicago agriculture commodities finished mixed Friday with Wheat futures suffering further losses on profit-taking.

The most active Corn contract for March delivery rose 0.25c, or 0.07% to settle at 3.5125 bu.

March Wheat delivery went down 3.25c, or 0.75% to close at 4.3075 bu.

March Soybean climbed 3c, or 0.31 percent to settle at 9.7075 bu.

Disappointing Argentine crop conditions and dry weather forecasts supported CBOT Soybean futures, as Buenos Aries Grain Exchange estimated that only 53% of the Soybean crop can be rated good or excellent with 27% of their Soybean soil moisture being rated short.

However, the rally of Soybean and Corn got limited by the disappointing US export sales.

According to official data released Friday, for the week ending 28 December 2017, the export sales of all 3 Key commodities: Soybean, Wheat and Corn were less than expected, even for a Christmas Holiday-shortened week.

Meanwhile, profit-taking and warming weather in the southern US Midwest and southern plains, dragged down CBOT Wheat prices for the 2nd session running.

Have a terrific week

 

 

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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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