Loading…
Chicago grain and soy futures jumped as commodity funds bought up to 14,000 corn, 11,000 soybean and 5,500 wheat contracts. Nearby soybeans reached their highest since November 2014 and soybean meal hit its highest since July 2015.
The rally extends a two-month run driven by poor weather that has hurt South American harvests.
Fund buying layered on top of South American crop concerns pushes prices higher across corn, soybeans, meal and wheat. Analysts describe the move as capital flow rather than a change in fundamentals, so it could reverse quickly.
agcanada.comAGCanadaMay 17, 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.
