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Chicago Agriculture Commodities Finished

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Chicago Agriculture Commodities Finished

$SOYB, $CORN, $WEAT

Chicago Board of Trade (CBOT) agriculture commodities finished mixed Monday, with Soybean futures surging more than 1% on news of easing trade tensions between China and the United States.

The most active Corn contract for July delivery kept Unchanged at 3.965 bu.

July Wheat delivery dropped 7.5c, or 1.5% to close at 4.9125 bu.

July Soybean delivery rose 14.5c, or 1.45% to close at 10.1775 bu.

China’s Ministry of Commerce said last Wednesday the Chinese side had accepted an invitation from the United States, agreeing to send a delegation to visit the country at a “proper time” for further economic and trade consultations.

China appreciates the US position on Chinese telecom equipment maker ZTE, Chinese Foreign Ministry spokesperson Lu Kang said Monday.

CBOT brokers estimate that funds Monday sold 3,400 contracts of Wheat and 1,000 contracts of Corn, while buying 8,200 contracts of Soybeans.

All Wheat production in the United States for MY 2018-2019 that starts on 1 June is pegged at 1.821-B bu, + 5% from the prior 12 months and well above analyst estimates, the US Department of Agriculture (USDA) said in a report last week.

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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