Commodity Blog |
| Drought in USA Boosts Wheat Futures Posted: 07 Jan 2013 05:07 PM PST Wheat futures rose today on fears that drought in the United States may hurt crops. Mark Hodges, the executive director of Plains Grains Inc., said that US farmers may abandon as much as 25 percent of the harvest. According to the Commitments of Traders, hedge funds were cutting their long positions on wheat, while boosting short positions. At the same time, longs by far outnumbered shorts in total. The US Department of Agriculture will [...] |
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