# Funds chip away at huge CBOT grain shorts amid demand-driven rally

> Chicago grain futures rose 3.6% in the week ended December 8 after contract lows on November 29. Wheat strength and solid U.S. corn export demand supported prices, while scenarios for Brazil's second corn crop also weighed on sentiment.

- Date: 2023-12-11 · published 2023-12-11T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/9990-funds-chip-away-at-huge-cbot-grain-shorts-amid-demand-driven-rally
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Fund short covering and firm export demand tighten nearby supply, supporting corn and wheat prices into year-end. Brazil's safrinha crop outlook could cap gains if it looks large.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/us/funds-chip-away-huge-cbot-grain-shorts-amid-demand-driven-rally-2023-12-11/

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