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Soybeans and corn closed higher on February 28, 2017 but ended below their session highs. Renewable fuel rumors lifted both markets before the White House denied any RFS changes.
Wheat also rose on commercial and technical buying.
Routine trading moves driven by commercial buying and a rumor that was then refuted leave little lasting supply or demand change. Prices remain sensitive to any future biofuel policy decision.
brownfieldagnews.comJohn PerkinsFeb 28, 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.
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.
