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Friday's grain futures fell, with CBOT wheat down 13.5 cents, Kansas wheat down 12.5 cents, corn down 5.5 cents and soybeans down 8.5 cents. Improved HRW wheat rain forecasts spurred fund selling, and talk of sorghum replacing wheat in US domestic feed rations weighed on wheat, while corn saw its biggest daily loss since mid-March as funds shifted into beans.
Better rain for HRW wheat and a positive planting outlook reduce weather risk premium, pressuring grain prices. Sorghum substitution in feed rations is a bearish signal for wheat feed demand.
graincentral.comGuest AuthorApr 22, 2018Not 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.
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.
