Grain futures prices remain mixed on Wednesday’s session: wheat down 0.3%, corn steady, soybeans higher. USDA’s planting progress data indicates slower-than-average pace, sparking talk among traders that yield forecasts could be revised lower. Macro risks include strengthening dollar, which could curb export momentum despite tight global stocks. Sugar Prices Settle Higher as Dollar Weakness Spurs Short-Covering In Ukraine, prices were stable throughout the week due to a lack of liquidity, and traders were mostly looking forward to the new crop trading. Soybean grain futures prices attracted buying interest following stronger-than-expected NOPA crush data. Prices moved to $12.53/bushel with steady open interest growth. Momentum traders argue that a close above $12.55 could invite fresh entry from trend-following funds.
