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CBOT corn and soybean futures moved on trader positioning ahead of USDA acreage and stocks reports. Shorts were adding positions and the July contracts were being rolled into deferred months.
Corn and soybeans closed at about $3.57 and $9.14 per bushel.
Price direction is being set by positioning rather than new supply news. Traders expect neutral reports to lift prices modestly if drier mid-July weather materializes.
grainews.caGFM Network NewsJun 28, 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.
