Loading…
U.S. corn and soybean futures jumped sharply on Wednesday after months of sluggish trade, with the July soybean contract topping $10 a bushel and July corn topping $4. Traders attributed the surge to commodity fund buying and exporters seeking alternatives to South American supplies.
Some traders warned the soybean rally could be short-lived given a sharp rise in near-term premiums.
Fund-driven buying and export demand for U.S. supplies push up futures, but a steep rise in near-term premiums suggests the rally may fade and feed costs could reverse. Buyers should watch spreads for signs of a pullback.
agweek.comTom Polansek/ReutersApr 21, 2016Not 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.
