Chicago Agriculture Commodities Traded Higher

Chicago Agriculture Commodities Traded Higher

$CORN, $WEAT, $SOYB

Chicago Board of Trade (CBOT) agriculture commodities traded higher Tuesday morning with deepening drought in Argentina driving up Soybean prices again.

As of 1550 GMT, May Corn was up 3 cents at 3.775 bu, while May Wheat was up 5 cents at 4.7775 bu, and May Soybean up 6.25 cents at 10.5225 bu.

Profit-taking during the previous session had briefly reversed the upturn of Soybeans on deepening drought in Argentina, where February rainfalls are set to be the lowest in almost 40 years.

Tuesday morning, Soybean futures were higher over concerns on South American crop yields due to the weather issues.

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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