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U.S. wheat futures eased 1.2% on Wednesday as traders took profits after their biggest rally since last summer. Corn and soybeans closed higher as shorts were covered on concerns about Midwest planting delays from wet fields and cold soil.
Large fund short positions raised the risk of a sharp short-covering rally if weather delayed seeding, supporting grain prices. The day's move was a modest correction within a volatile weather-driven market.
grainews.caGFM Network NewsMar 13, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
