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Corn, soybeans and wheat rallied after USDA's monthly report, and wheat has since topped $4.50 a bushel as investment funds bought hard red winter wheat and reduced their net short in soft red winter wheat. USDA also forecast the lowest U.S. farm income since 2002.
Fund buying adds momentum to wheat and supports corn and soybean prices, though analysts question whether ample world wheat supplies will cap the rally. The low farm income forecast does not directly change supply.
farmprogress.comBob BurgdorferFeb 17, 2017Not 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.
