DTN Grain Closing: Grains Mixed

Soybean harvest. ©Debra L Ferguson

Winter Wheat Rallies, Shorts Run for Cover

What was described as a small bullish surprise in Tuesday’s closing market comments turned into a larger bullish surprise Wednesday as September contracts of Chicago and KC wheat closed up 21 1/4 cents and 16 cents, respectively. Weather, a lower U.S. dollar and traders caught with ill-timed short positions all contributed to Wednesday’s higher wheat prices.

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