Corn, soybean, and wheat futures all closed higher to start the week, as buying following Friday's USDA report continues today. Wheat made the most gains, as cold temps and dry weather in Russia is creating support. Funds have been actively reducing short positions, Friday's Commitment of traders report caught the attention of many (see table below). US weekly export inspections were 36.92 mil bu for corn, 14.92 for soybeans, and 13.46 for wheat. The weekly averages need to reach the USDA's projections are 37.79 mil bu for corn, 11.93 for soybeans, and 21.42 for wheat. |