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A University of Tennessee extension article says the market is in a weather rally affecting soybeans and wheat. Cash wheat for 2018 delivery could be contracted at $5.65 per bushel, and West Tennessee soybeans were near $10.05 for October delivery.
Higher forward wheat and soybean bids encourage producers to price future crops and may expand wheat plantings, while the weather premium could fade if August conditions are favorable.
farmprogress.comChuck DanehowerJul 24, 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.
