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CBOT wheat rose 12.5c and Kansas wheat gained 14.25c on Monday as Middle Eastern buyers, including Saudi Arabia, were expected to buy because Canada and Australia were limited and Europe was tight. Soybeans fell 2.75c on continued selling after record US yields and new trade tension with China.
Corn rose 1c on wheat's lead.
Expected Saudi purchases and tight Australian and European supplies support wheat prices and encourage buyers to consider wheat in feed rations. Trade tension with China continues to weigh on soybeans and soymeal.
graincentral.comGuest AuthorSep 16, 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.
On Monday (Sept 17 market wire) Kansas wheat gained 14.25c and CBOT 12.5c on expected Middle Eastern import demand with Canada, Australia limited and Europe tight, directly matching the large HRW rally.
