DTN Closing Grain Comments 07/08 14:03
Winter Wheat Rallies, Shorts Run for Cover
What was described as a small bullish surprise in Tuesday's closing market
comments turned into a larger bullish surprise Wednesday as September contracts
of Chicago and KC wheat closed up 21 1/4 cents and 16 cents, respectively.
Weather, a lower U.S. dollar and traders caught with ill-timed short positions
all contributed to Wednesday's higher wheat prices.
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