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Since early June, US wheat futures have rallied strongly, led by Minneapolis hard red spring wheat amid extremely dry conditions in key US producing states. The CBOT September soft red winter contract rose 112 cents per bushel, and much of the gain came from fund short covering.
Dry US spring wheat conditions and fund buying lifted wheat prices, raising feed wheat costs, though the rally is largely driven by speculative positioning that can reverse quickly.
graincentral.comGuest AuthorJul 4, 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.
