Chicago Agriculture Commodities Finished Higher On Thursday
$WEAT, $CORN, $SOYB
The Chicago Board of Trade (CBOT) Corn, Wheat and Soybeans all finished higher Thursday.
The most active Corn contract for Dec delivery gained 4 cents, or 1.06% to close at 3.825 bu.
Dec Wheat delivery added 11.25 cents, or 2.25%, to close at 5.1125 bu.
Nov Soybean rose 13.75 cents, or 1.54%, to close at 9.0725 bu..
Analysts said Corn extended gains as the US Department of Agriculture (USDA) reported a booming export sales in its weekly export report released Thursday.
The agriculture report showed net sales of 282,700-M tonnes for delivery MY 2014/2015 in the week ending 13 August up from prior week and 84% from the prior 4-wk average. While the Pro Farmer Midwest Crop tour released a press release Wednesday, showing US Corn yields would ease this year.
Soybean futures rebounded from more than 5 yr lows Thursday on short-covering, according to analysts.
Wheat continued to advance because of a weaker USD, analysts said, adding that Wheat found some support from the rally of Corn Thursday.
The USDA report indicated Wheat net sales of 314,400 tonnes, down 25% from the prior week and 49% from the prior 4-wk average, Soybean net sales were 46,400 tonnes, down 52% from the prior week but + 27% from the prior 4-wk average.
Stay tuned…
HeffX-LTN
Paul Ebeling
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