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U.S. wheat, corn, soybeans and canola closed higher on November 29, with Kansas wheat up 8.75 cents and soybeans up 15 cents. Support came from an Iraq wheat tender, a weaker dollar and China-U.S. trade optimism ahead of talks.
Expectations of trade progress and a weaker dollar support grain and meal prices, although record fund long positions in wheat leave the market exposed to a reversal.
graincentral.comGuest AuthorNov 27, 2018graincentral.comGuest AuthorNov 28, 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.
Event is dated Nov 27 but describes Nov 29 gains from an Iraq wheat tender, a weaker dollar and US-China trade optimism, which supports demand and sentiment ahead of the Nov 30 move; the date mismatch limits confidence.
Corn closed higher Nov 29 on trade optimism and a weaker dollar, contributing early in the 5-day window.
