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Wheat futures rose on commercial and technical buying, with Chicago and Kansas City posting the strongest gains. Dry weather in key global growing areas and higher Asian export demand were cited.
Soybeans were modestly higher, with USDA reporting cancellations of 949,000 tons of U.S. beans and new purchases of 168,000 tons, while corn gained on commercial buying.
Stronger wheat export demand from Asia and dry global weather support wheat prices. Soybean and corn moves are modest and tied to trade uncertainty with China.
brownfieldagnews.comMay 18, 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.
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.
Commercial and technical buying plus dry global weather and Asian export demand supported wheat on 18 May, contributing to the rally's continuation.
