Grain prices again found significant gains this past week as the complex continued to price in weather and corresponding production risks, especially in the U.S. Midwest. The weekly performance was augmented by a significant rally on Friday that saw corn prices jump 14 cents/bushel and Chicago wheat climbing 19 cents! With the forecast for the next few days suggesting more rain, speculators are adding more risk premium to the grain markets and it’s unlikely to let up until the rain does. Wheat prices found the biggest gains this week as major American winter wheat production areas – especially Kansas –…
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