Wheat Trades Both Sides Torn between Rising Corn and Sliding Soybeans
Wheat lacked independent fundamental news which made the market a follower rather than a leader. US wheat futures closed slightly lower while French values ended firm, and Black Sea offers were stable. Russian April fob wheat ended at $228/MT, stable with Thursday, but down $1.00/MT for the week. Funds sold 3,100 contracts in Chicago…
Corn Bounces on China Buying; Hope for a US/China Trade Deal
May corn settled 2 cents higher, fighting the pressure of macroeconomic selling in US stock, energy and other raw material markets. Corn’s daily high was set on Friday’s opening as futures temporarily pushed above the 50-day moving average. Funds ended Friday as buying 2,300 contracts of CBOT corn futures. USDA confirmed that China…