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March Minneapolis spring wheat fell 12.5 cents to $5.47 1/2 for the week ending January 24, reversing lower after a failed test of a three-month high. March Kansas City wheat finished down 8.25 cents at $4.86 after failing to trade above $5.00.
Technical bearish reversals and neutral speculative positioning point to limited near-term downside, with the $5.00 Kansas City and $5.38 Minneapolis levels key for direction. Russian crop size remains a possible upside risk.
dtnpf.comTodd HultmanJan 27, 2020Not 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.
