Wheat, Corn, and Soybean futures ended Friday in negatives territories to give back gain generated in the previous session amid concerns regard U.S soybean export competitiveness this season. Thus adding pressure on U.S corn and wheat future prices.
In Oil news, oil prices firmed on Friday to levels last seen in 2015 amid support from the OPEC-led supply cuts, as the market is showing signs rebalancing. Furthermore, a drop in US drilling activities also gave additional support that helped lift oil prices higher.
West Texas Intermediate December futures contract jumped by 1.80% on Friday to trade at 55.69 US Dollars a barrel at the close, and Brent January futures contract surged by 2.04% to settle at 62.09 US Dollars a barrel at the close.
© Copyright 2017
The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Gotinsiders.com current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterized by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.