Chicago Agriculture Commodities Traded Higher

Chicago Agriculture Commodities Traded Higher

Chicago Agriculture Commodities Traded Higher

$SOY, $WEAT, $CORN

Chicago Board of Trade (CBOT) agriculture commodities traded higher Wednesday morning, but the upward momentum boosted by declined crop ratings seemed  weak.

As of 1459 GMT, the most active December Corn was up 1.5C at 3.6125 bu, and Soybean contract for November delivery rose 1.25c at 8.565, while September Wheat was up 0.75c at 5.13 bu.

The prices of CBOT Corn and Soybean futures have been rising in the past 2 sessions after crop ratings declined in the 7 days that ended Sunday, and decreasing world stocks pushed up Wheat prices.

Russian Wheat prices have risen to $206/tonnes on concern about a further decline in production, while warm and dry weather conditions will persist over much of western Europe, denting yield potential, said agriculture analysts.

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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