Loading…
Kansas City July 2018 wheat rose nearly 50 cents in five sessions to touch $5.00 per bushel. Managed money funds were reported short large amounts of CBOT and KC wheat.
Russian milling wheat was offered at about $194 per tonne FOB as an import alternative to US HRW.
Fund short positions raise the risk of a sharper short-covering rally if the drought persists. Russian import competition may limit upside for US HRW.
farmprogress.comKim AndersonFeb 2, 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.
