Agricultural Commodities prices mixed amid WASDE report

Agricultural Commodities prices were mixed on Thursday, as traders continue to square positions ahead of Friday’s World Agricultural Supply and Demand Estimates (WASDE) report.

In weather space, according to the latest 72-hour cumulative precipitation map from NOAA, temperatures across the central U.S. will turn gradually colder soon, with daytime highs dropping 20 degrees or more below normal by early next week.

Wheat Intradía : down trend

CBOT Wheat December futures fell on Thursday session on a round of technical selling and finished at 5.12 USD per bushel. Prices were lower on today’s session and are currently at 5.0975 USD per bushel at 08:00 GMT.

Wheat export sales improved last week but remain low, at 13.3 million bushels, falling below trade estimates of 17.5 million bushels, with the rate needed to match USDA forecasts holding steady at 13.4 million bushels. Export shipments of 15.4 million bushels didn’t fare much better.

Preliminary volume estimates were 134,079 CBOT contracts, higher than Wednesday’s final count of 109,432.

  • Nuestra recomendación: sell below 514.17, take profit 508.84 then 505.67 stop loss 514.17
  • Otro lado: buy over 514.17, take profit 517.34 then 522.67 stop loss 514.17
  • Comentario: Moving Average cross the price line up
Resistencia R1
517.34
R2
522.67
R3
525.84
Apoyo S1
508.84
S2
505.67
S3
500.34

Punto de pivote: 514.17

Corn Intradía : down trend

  • Nuestra recomendación: sell below 376.25, take profit 372.75 then 370.25 stop loss 376.25
  • Otro lado: buy over 376.25, take profit 378.75 then 382.25 stop loss 376.25
  • Comentario: Moving Average cross the price line Down
Resistencia R1
378.75
R2
382.25
R3
384.75
Apoyo S1
372.75
S2
370.25
S3
366.75

Punto de pivote: 376.25

Soybean Intradía : sideways

  • Nuestra recomendación: buy over 933.83, take profit 941.16 then 945.58 stop loss 931.83
  • Otro lado: sell below 933.83, take profit 929.41 then 922.08 stop loss 935.83
  • Comentario: Moving Average cross the price line Down
Resistencia R1
941.16
R2
945.58
R3
952.91
Apoyo S1
929.41
S2
922.08
S3
917.66

Punto de pivote: 933.83

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