# Take a seat at the protein poker table… - Grain Central

> 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.

- Date: 2017-07-04 · published 2017-07-04T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/70001-take-a-seat-at-the-protein-poker-table-grain-central
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

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.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Sources

- graincentral.com: https://www.graincentral.com/markets/take-a-seat-at-the-protein-poker-table/

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