“Prices ranged from $.13-$.19 higher across the 3 classes closing near session highs. CGO July-26 is up $.16 ¾ at $6.12 ¾ trading to a fresh 2-week high. Next resistance is the 50-day MA at $6.17 ¾. Coming into today we had MM’s still short 72k contracts of SRW wheat. KC July-26 was $.18 ¾ higher at $6.52 ½ also stretching out to a 2-week high. Next resistance is the 50-day MA at $6.62 ¼. MIAX July-26 was up $.13 ¼ at $6.25 ½. Forecasts for heavy rains continue to threaten the quality of the SRW crop while also delaying harvest. South Korea reportedly bought 60k mt of feed wheat from either the EU or the Black Sea region. Price executed was just under $278/mt CF for Aug/Sept shipment,” pointed out Mark Soderberg with ADM Investor Services.
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