Funds Continue to Adjust CBOT Positions Covering Short Corn/Soy & Exiting Long Chi Wheat; China Booking Brazilian Soybeans for June
CBOT ag futures are mixed at midday with wheat futures lower while the summer row crops push higher. The March/May corn spread has pushed out to an unusual 2 cent premium while May soybean tests resistance at $9.10. Funds are short of corn/soybeans and long of wheat which appears the driver of CBOT direction as…