# Daily Market Wire 16 October 2018 - Grain Central

> 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.

- Date: 2018-10-14 · published 2018-10-14T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/8557-daily-market-wire-16-october-2018-grain-central
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

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.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2018-10-16 | 5 | +8.2% | 3.0 | 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. |
| WHEAT | 2018-10-15 | 5 | +8.4% | 3.1 | CBOT wheat closed higher on Oct 16 with corn and soy strength, indicating follow-through buying near the end of the move. |

## Sources

- graincentral.com: https://www.graincentral.com/markets/daily-market-wire-15-october-2018/
- graincentral.com: https://www.graincentral.com/markets/daily-market-wire-16-october-2018/

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