Chicago Agriculture Commodities Finished Higher Wednesday
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) Wheat, Corn and Soybean futures finished higher across the board Wednesday.
The most active Corn contract for Dec delivery added 2.75 cents, or 0.72%, to settle at 3.8325 bu.
Dec Wheat delivery advanced 12 cents, or 2.42%, to close at 5.075 bu.
Nov Soybean gained 2 cents, or 0.23%, to close at 8.6375 bu.
Agriculture analysts said that dry weather in Russia and Ukraine caused concerns that it may hurt the newly planted Wheat there, boosting short covering of the crop on the market.
Soybean posted some gains after the United States Department of Agriculture (USDA) announced in the morning that private exporters reported export sales of 284,500 tonnes of Soybean for delivery to China during MY 2015/2016.
As for Corn, agriculture analysts said that an official report gave some pressure, however, Corn saw a little gains Wednesday, following Wheat and Soybean.
The US Energy Information Administration (EIA) said in its Weekly Supply Estimates that the country’s Ethanol inventories were 18.9-M bbls till the week 18 September, up from previous week’s 18.29-M bbls.
Stay tuned…
HeffX-LTN
Paul Ebeling
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