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CBOT wheat, Kansas wheat, spring wheat, CBOT corn and soybeans all closed higher on October 16, 2018, following strength in beans and corn. US weekly wheat inspections were 28.9% behind last year, and winter wheat planting was reported at 65% versus 67% the prior week.
Syria and Jordan were set to tender for wheat that week.
Routine daily wrap with grains higher on technical buying and harvest delays, but weak export sales mean the rally needs more demand to be sustained. Price direction is modestly bullish for wheat and corn.
graincentral.comGuest AuthorOct 14, 2018graincentral.comGuest AuthorOct 15, 2018Not 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.
Oct 16 close higher on spillover from corn and soybean strength, slow winter wheat planting (65% vs 67%) and upcoming Syria/Jordan tenders supported prices at the end of the 5-day window, though weak inspections were a drag.
CBOT wheat closed higher on Oct 16 with corn and soy strength, indicating follow-through buying near the end of the move.
