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CBOT and Kansas wheat and corn gained on the day after being oversold, with some short covering. Soybeans slipped slightly, and traders were looking ahead to the StatsCan and USDA reports.
The move is a technical bounce rather than a change in fundamentals, and upcoming government reports could reset direction. Feed buyers should watch the reports more than the day's price moves.
graincentral.comGuest AuthorDec 4, 2016graincentral.comGuest AuthorDec 5, 2016graincentral.comGuest AuthorDec 6, 2016Not 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.
The 5 Dec market wire reports CBOT and Kansas wheat gaining on the day after being oversold, with short covering, which directly matches the 3.53% one-day rally ending 2016-12-05.
