Chicago Agriculture Commodities Finished Mostly Higher

Chicago Agriculture Commodities Finished Mostly Higher

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures finished higher Thursday with Wheat rebounding due to sharply increasing export sales.

The most active Corn contract for December delivery rose 0.5 cent, or 0.14%, to 3.49 bu.

December Wheat delivery climbed 2.75 cents, or 0.64%, to 4.3275 bu.

November Soybean went up 2.25 cent,or 0.23%, to 9.865 bu.

CBOT floor brokers estimated that funds bought 1,500 contracts of Corn, 2,500 contracts of Wheat and 2,500 contracts of Soybean.

The official weekly export sales report released Thursday morning showed that for the week ending 12 October US exporters sold 22.6-M bu Corn, hitting a 9 week high.

The better-than-expected data boosted Wheat futures, which posted significant gains following 3 straight days of decline.

The US Soybean sales were reported at 46.9-M bu, less than the prior week. However, the US daily export reporting system showed new sales of 14-M bu of Soybean to China, which drove Soybean North

Corn prices remained flat to unchanged Thursday.

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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