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CBOT and Kansas wheat finished slightly lower on Friday while corn rose 4.75c and soybeans fell 3c. Fund selling pressured wheat on thin volumes, while funds were heavily short corn and covered positions.
Russia's harvest was 73% complete and Ikar cut its Russian wheat crop forecast to 69.2Mt.
A cut to Russian wheat output and possible Iraqi tender demand support wheat prices, while corn's short-covering rally reflects doubts about the USDA's record yield. Feed buyers should watch the wheat-corn spread as wheat becomes a feed substitute.
graincentral.comGuest AuthorSep 23, 2018Not 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.
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.
