# Wheat rally is real

> 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.

- Date: 2018-02-02 · published 2018-02-02T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/66546-wheat-rally-is-real
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

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.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Sources

- farmprogress.com: https://www.farmprogress.com/wheat/finally-producers-seeing-a-wheat-price-rally

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.