Chicago Agriculture Commodities Finished The Week Overall Mixed
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) Corn futures finished lower Friday on higher Corn stocks expectations, while Wheat and Soybean were little unchanged after a 2 day decline.
The most active Corn contract for Jul delivery lost 3.5 cents, or 0.98%, to close at 3.53 bu.
Jul CBOT Wheat for Jul delivery shed 0.5 cents, or 0.1%, to close at 5.0375 bu.
Jul Soybean were Unchanged at 9.4 bu.
Corn futures dropped for a 4th straight session on expectation for higher Corn stocks. Next week, some agriculture research institutes are expected to release their estimates for the end of month Quarterly Stocks and Seeding Reports.
Chicago Wheat on Friday hung around the Key mark at 5.00 bu during a choppy session, supported by heavy rainfall in the US Wheat belt which hurt the grain’s harvest potential.
Moderate rains will fall across the US Plains and Midwest and Western Delta throughout the next 4 to 5 days, with cumulative rainfall forecast in a range of 1 to 3.5 ins, according to the mid-day Global Forecast System.
Chicago agriculture commodities on the week: the most active Corn contract for Jul delivery dropped 2.08%, Jul Wheat shed 2.56%, and Jul Soybean gained 0.24%.
Have a terrific weekend.
HeffX-LTN
Paul Ebeling
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