# EU wheat rebound from contract lows as CBOT futures rally - Agweek | #1 source for agriculture news, farming, markets

> European milling wheat rebounded from contract lows on Monday, tracking a rally in Chicago wheat that followed data showing large speculative net short positions. Gains were limited by large stocks and favourable northern hemisphere crop conditions, and Agritel raised its Ukraine wheat forecast to 19.3 million tonnes.

- Date: 2016-04-18 · published 2016-04-18T12:00:00.000Z
- Category: market · region EU · magnitude low
- Page: https://feedsoft.ai/events/8408-eu-wheat-rebound-from-contract-lows-as-cbot-futures-rally-agweek-1-source-for
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A short-covering rebound may be temporary, since large old-crop supplies and good crop prospects still cap wheat prices, leaving feed wheat costs range-bound.

## Read by commodity

- WHEAT: bullish ▲

## Sources

- agweek.com: https://www.agweek.com/news/eu-wheat-rebound-from-contract-lows-as-cbot-futures-rally

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.