Chicago Agriculture Commodities Finished Down Friday
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) Corn, Wheat and Soybean futures all settled lower on technical selling and favorable US weather, according to analysts.
The most active Corn contract for Dec delivery was down 11 cents, or 2.66%, to close at 4.0275 bu.
Sept Wheat delivery lost 9.75 cents, or 1.87% to close at 5.1175 bu.
Nov Soybean fell 15.5 cents, or 1.58%, to close at 9.65 bu.
On the week
Corn lost 6.6%, its biggest weekly decline in a year sine July 2014
Wheat fell 7.63%, and,
Soybean fell 4.15%.
All 3 major agriculture commodities were pushed South by technical selling. Friday, the floor brokers estimated that funds were active in the morning, selling a net 9, 500 contracts of Corn, 3,000 contracts of Wheat, 7,500 contracts of Soybean, said an agriculture grain analyst in its daily report.
The stronger USD also put pressure to agriculture commodities, which accelerated fund liquidation along with a favorable US weather forecast.
Have a terrific week.
HeffX-LTN
Paul Ebeling
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