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The Marketline report says wheat is surging on US crop concerns and recently hit a seven-month high. Commercial buyers were reported buying Kansas City wheat, and funds were covering shorts.
March corn closed higher and Chicago wheat rose sharply on the session.
Fund short-covering and commercial buying signal growing concern about US winter wheat, supporting wheat prices and tightening feed grain supply expectations. This is a routine market wrap with no new fundamental cause.
aginfo.netMar 1, 2018Not 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.
