Wednesday, March 9, 2016

"Wheat futures gain, as Wasde 'less bearish' than thought"

Wheat is up a couple cents at 467-6 while corn is off 3/4 cent at 359-6.
From Agrimoney:
Wheat and corn futures turned a little higher, after a Wasde report that was, at least, less bearish than expected.

Soybean futures were down, as bearish US news for the soy-complex outweighed a cut to global stocks and an upgrade to Chinese demand prospects.

But overall reaction was muted, as stocks of all the grains remain very heavy.

"No change in overall 'plenty of everything' narrative," as Richard Feltes, at RJ O'Brien, put it....MORE
Also at Agrimoney:
PM markets: ags react somewhat tepidly to Wasde, real help

Corn, Wheat Turn Modestly Higher On "Damn With Faint Praise" Dept. Of Agriculture Report