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Cash bids for wheat and sorghum were mostly lower compared with October 29, while corn and soybeans were mixed, according to the USDA National Grain Market Summary. Kansas City December wheat futures closed at $4.94 3/4, down 6 3/4 cents, and wheat planting in Kansas was behind the usual pace.
Lower cash bids and slower winter wheat planting point to soft near-term wheat and sorghum values. Buyers should watch whether the planting delay becomes a bigger supply concern.
hpj.comHPJ StaffNov 5, 2018Not 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.
