CBOT wheat rebounds on technical buying, short covering
Chicago Board of Trade (CBOT) wheat futures rebounded on Wednesday after two sessions of losses as technical buying and short covering lifted the market.
CBOT May soft red winter wheat ended 10-3/4 cents higher at $5.56 a bushel. The benchmark contract fell to a one-week low early in the session but found technical chart support at its 20-day moving average.
Commodity funds hold a sizable net short position in CBOT wheat futures, leaving the market open to short-covering rallies.
A softer dollar was also supportive as it makes U.S. grains more competitive globally.
K.C. May hard red winter wheat settled up 17-1/4 cents at $5.80-1/2 per bushel after earlier falling to its lowest since March 6.
MGEX May spring wheat ended up 12 cents at $6.39-1/2 a bushel.
CBOT May soft red winter wheat ended 10-3/4 cents higher at $5.56 a bushel. The benchmark contract fell to a one-week low early in the session but found technical chart support at its 20-day moving average.
Commodity funds hold a sizable net short position in CBOT wheat futures, leaving the market open to short-covering rallies.
A softer dollar was also supportive as it makes U.S. grains more competitive globally.
K.C. May hard red winter wheat settled up 17-1/4 cents at $5.80-1/2 per bushel after earlier falling to its lowest since March 6.
MGEX May spring wheat ended up 12 cents at $6.39-1/2 a bushel.
註釋
Hit SL
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。