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DTN reports that wheat futures closed higher on January 31, with March contracts for SRW, HRW and HRS up for several sessions. Commercial traders' net-long positions in all three classes reached their largest levels in years.
Heavy commercial buying signals that those closest to physical supply see value, which may firm wheat prices and feed-grain alternatives.
dtnpf.comCliff JamiesonJan 31, 2023Not 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.
