Wheat futures decline as traders cite worries over Trump trade policies

seekingalpha07-16

Grain futures fell sharply on the Chicago Board of Trade on Monday, with traders adding to short positions as a Donald Trump victory in the presidential election looks more likely, in turn adding to ...

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Also, the U.S. Department of Agriculture forecast temperatures cooling down in southern crop-growing areas as the week progresses, turning below the 80-degree Fahrenheit mark in much of the Midwest from more than 100 degrees in some areas - positive for farmers' fields, but not for CBOT grain futures. CBOT wheat (W_1:COM) for September delivery settled -3.6% to $5.31 per bushel, corn (C_1:COM) for December delivery closed -2.7% to $4.03 1/4 per bushel, and November soybean (S_1:COM) finished -2.5% to $10.39 1/4 per barrel. ETFs: (NYSEARCA:WEAT), (NYSEARCA:CORN), (NYSEARCA:SOYB), (DBA), (MOO) Speculators last week established record net short positions in both CBOT corn and soybean futures and options, Reuters reported. The timing of funds' all-time bearish stances is historically unusual in coming during a sensitive time for U.S. crop development, but USDA data on Friday painted a much less comfortable picture of U.S. corn supplies than traders expected, which could justify a temporary price bottom or even some nearby short covering, according to the report.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2451508605"}