Chicago Agriculture Commodities Traded Mixed Friday
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) agriculture commodities traded mixed Friday with Soybean futures continuing to rise over unfavorable weather conditions in Argentina.
As of 1535 GMT, March Corn was up 1.5c at 3.53 bu, while March Wheat was down 1.5c at 4.2375 bu and March Soybeans up 7.75c at 9.8075 bu.
CBOT Soybean had kept an upturn for 4 sessions running since the US Department of Agriculture (USDA) reduced its projection for MY 2017-18 US output, and weather broadcasts said dryness would prevail again in soybean-producing areas in Argentina.
Now rumors were out among traders that the Argentina soybean crop could also be smaller than analysts had expected.
According to weather forecasts, southeastern parts of Argentina is expected to be hot and dry at least till the end of this month, with some rainfall in central Buenos Aires reaching only 10% of the country’s Soybean crop.
Have a terrific week.