Loading…
Chicago wheat's premium over corn has narrowed to about 50 cents per bushel, a level that makes feeding wheat economical. Managed money holds a large combined net short position in Chicago and Kansas wheat.
Corn's rally is attributed to Brazilian safrinha planting delays and tight supplies in major exporters.
When wheat trades close to corn, feed users substitute wheat for corn, which lifts wheat demand. A large short position raises the chance of a short-covering rally.
dtnpf.comMitch MillerJan 29, 2025Not 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.
