Few Buyers Willing to Chase CBOT Rally; Funds Square Positions Ahead of April WASDE; CME Livestock Futures Bid Limit as Extreme Volatility Persists
Midday CBOT values are mixed in better volume with short covering the feature in corn/soybeans with funds reducing some of their market risk in long wheat ahead of Thursday’s USDA April Crop report and the coming 3-day weekend. A mixed CBOT close is forecast following the midday trend. Traders do not want to chase strength…