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DTN analyst Todd Hultman says U.S. corn and HRW wheat prices reached their 2017 highs in early March but have not moved higher since. He notes that the early-2018 rally in these grains lacks clear bullish fundamentals, while the soybean rally has solid support from Chinese demand and Argentine drought.
USDA has raised its export estimates since February.
With fundamentals weak for corn and HRW wheat, prices may have peaked for the year, and feed buyers could find cover opportunities.
dtnpf.comApr 17, 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.
