Loading…
Cofco International's Stuart Shiells says global grain prices are range-bound, with funds holding large short positions. He notes a fast US soybean harvest and slow corn harvest, and expects Australia's wheat crop at 22m tonnes against growing Russian estimates.
Large fund shorts leave prices vulnerable to sharp rallies on any surprise, but with no clear catalyst the range-bound market is likely to persist.
fwi.co.ukStuart ShiellsNov 16, 2017Not 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.
