Chicago Agriculture Commodities Traded Lower Last Friday
$SOY, $WEAT, $CORN
Chicago Board of Trade (CBOT) agriculture commodities traded lower Friday with Wheat falling sharply on profit-taking.
As of 1500 GMT, July Corn was down 0.75c at 3.755 bu, July Wheat was down 8c at 5.1875 bu, and July Soybean down 4.5c at 9.6975 bu.
CBOT Wheat saw significant rises in the past 3 sessions running over unfavorable weather for the crop in the world’s Key Wheat growing regions, such as parts of Australia and Black Sea areas.
Profit-taking Friday morning led to the fall in Wheat prices.
Soybean futures were lower on weak demand as well as favorable weather conditions in the US Midwest.
China, the biggest buyer of US Soybeans, has been absent for quite some time on the US Department of Agriculture (USDA) report of Soy export sales.
Trade ties between the 2 economic giants have been soft in recent months and Chinese officials are actively engaged in trade negotiations with their American counterparts.
If the 2 sides can solve their trade disputes, American farmers will be able to sell more Soybean to the Chinese market.
Have a terrific week