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feed-grains soy-oilseeds wheat

Market Commentary

Wheat had an interesting trading day today. Chicago led the rally because that’s where the funds are short about 500 million bushels of futures. Short covering pushed prices above several moving averages, and that brought additional short covering. General Comments Markets were mixed overnight with soybeans turning firmer after the Brazilian impeachment vote results were known. Crude oil was down hard on news that no agreement was reached to curb oil production at the Doha meeting on Sunday.All of that changed when markets opened this morning with wheat, corn and soybeans notching good early gains. Wheat eventually took charge on fund buying. Last Friday’s Commitment of Traders report showed the funds had continued to add to those short p...

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feed-grains soy-oilseeds wheat

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feed-grains soy-oilseeds wheat

Black Sea Regional Analysis

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