|
Headlines
Market news and breaking stories live from Dow Jones Newswires
Market Commentary
A technical analysis commentary of the major markets, only from INO
Smart Scan
A premium service, alerting you to changes in the market by web and email.
Extreme Futures / Stocks
Extreme Markets from all exchanges, updated throughout the trading day.
|
| |
|
Trade Triangle Technology, Advanced Charts, SmartScan, Trading Workshops.
The premier online video learning platform for traders.
Daily Portfolio Scan and Analysis
|
| |
|
DJ MARKET TALK: US Wheat Edges Higher As Funds Buy84 days ago
1328 EST [Dow Jones] - Fund buying continues to underpin U.S. wheat futures, despite weak fundamentals. Commodity funds have bought an estimated 3,000 wheat contracts at the CBOT, traders say. CBOT Dec wheat has technical support after closing above its 200-day moving average Monday, an analyst says. The contract in electronic trading hit a session high of $5.72 per bushel, its highest price since Oct. 23. The rally is "ridiculous" because world supplies are large and demand has been sluggish, says Tom Leffler, owner of Leffler Commodities. "The fundamentals don't even start to support this," he says of current prices. "We do not have fundamentals in the world or the U.S. to support this. The markets are getting an influx of money from the funds." CBOT Dec wheat is up 1 3/4 cents at $5.64 a bushel, KCBT Dec wheat is up 4 3/4 cents at $5.65, and MGE Dec wheat is up 3/4 cent at $5.75. (TGP)
Contact us in Chicago at 312-750-4075; tom.polansek@dowjones.com
(END) Dow Jones Newswires
November 17, 2009 13:29 ET (18:29 GMT)
< Back to News Index
|
