Source: FARM FUTURES, 8/12/13
While corn and wheat were quiet overnight, soybeans turned around from Friday’s disappointing finish to attract good buying. Forecasts for warmer and drier conditions, and news funds turned bearish last week triggered some buying. Big speculators held net short positions covering corn, soybeans and wheat in Friday’s Commitment of Traders, providing plenty of buying support if USDA comes out with a bullish surprise.
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