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Hard wheat futures rose almost 4% on November 13, with Kansas HRW December up 16 cents and Chicago SRW up 11.25 cents. Corn also gained about 4.5 cents.
Commentary attributed the Kansas rally to technical breakouts and short covering by speculators, not to meaningful cold damage to the crop.
The rally was driven mainly by technical buying against near-record fund shorts, so it may not hold without fundamental support. Feed buyers should watch whether cash wheat firmness persists.
graincentral.comGuest AuthorNov 13, 2019Not enough comparable past events yet for a historical read.
Not 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.
