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CBOT wheat closed higher on follow-through buying and rising chart trends, with Chicago and Kansas City support and resistance levels cited. Soybean meal, soybean oil and rough rice delivery notices were also reported, and corn and soybeans had rallied more than wheat after USDA reports.
The routine price commentary shows short-term firmness in wheat without a new fundamental cause, so the move is unlikely to persist on its own.
blog.pricegroup.comJack ScovilleJan 15, 2025Not 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.
