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An Oklahoma State University extension note says wheat and corn both set new contract lows in late November, with Chicago wheat funds heavily short. Wheat slipped from support at $4.30 to $4.25, and the specialist said quality at harvest will determine any price recovery.
Fund short positions and contract lows point to weak near-term corn and wheat values, which favors feed buyers covering needs at current levels, though a short-covering rally remains possible.
news.okstate.eduDec 1, 2017Not 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.
