Agriculture News
Short-term trend turns bullish for SRW wheat, soyoil.
Corn futures posted contract highs overnight, with front-month May futures poking above $8.00 – the 2013 high on the continuation chart that was matched earlier this year. Wheat and soybean futures were also strong.
Disconnect between prices and production threatens to create a “volatility trap” in commodities and discourage investment in the sector, something that could threaten the supercycle.
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The amount of U.S. winter wheat considered in drought conditions remained constant at 69%
Sharp weekly increases in cash prices of corn, soybeans and wheat.
Grain and soybean futures posted two-sided trade overnight, with wheat and corn narrowly mixed and soybeans under pressure this morning.