Chicago Agriculture Commodities Finished Higher
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) agriculture commodities finished higher Wednesday with Corn and Wheat rebounding over short-covering and bargain-buying respectively.
The most active Corn contract for March delivery rose 4.75c, or 1.36% to settle at 3.475 bu.
March Wheat delivery went up 5c, or 1.20% to close at 4.215 bu.
March Soybean were up 0.75c, or 0.08% to settle at 9.6875 bu.
CBOT brokers reported that funds bought 5,500 contracts of Corn and 2,800 contracts of Wheat ,while selling 4,300 contracts of Soybean.
Short-covering and a general lack of Bearish input pushed up Corn futures. Agriculture analysts said managed funds established a new record Short position as of Wednesday morning.
CBOT Wheat futures had posted losses for 3 sessions running after the USDA estimated Y 2018 winter Wheat plantings at 32.608-M acres, above analysts’ expectations.
Bargain-buying on Wednesday led to the rally of CBOT Wheat prices.
The Soybean were almost flat following 2 days of sharp rise.
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