DTN Closing Grain Comments 05/20 13:41
Excess Water, Troubling Forecast Extend Grain, Soy Rally
Weekend rain and even snow, plus a forecast that promises more rain the next
10 days fueled Monday's sharp grain and soy complex rally. As planting
seriously lags the average pace in corn and soybeans, and severe weather
threatens wheat, funds are scrambling to cover part of their large net short,
driving prices significantly higher than a week ago in corn and wheat. Soybeans
have been a reluctant follower.
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