Trader short-covering before the end of the month is competing with disappointment around an easing weather outlook for crop-growing areas. "The need to liquidate remaining July contracts has collided with eroding medium-term Central U.S. weather threats," says AgResource in a note. The firm adds that tomorrow's reports from the USDA are not expected to move the needle regarding supply-and-demand fundamentals. Most-active corn futures are down 3.4%, while soybeans sink 1.6% and wheat falls 1.6%. ([email protected])
Dow Jones Newswires
Grain Markets Down as Trader Technicals Meet Weather Forecasts — Market Talk
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Trader short-covering before the end of the month is competing with disappointment around an easing weather outlook for crop-growing areas. "The need to liquidate remaining July contracts has collided with eroding medium-term Central U.S. weather threats," says AgResource in a note. The firm adds t…