Wheat futures posted double-digit gains across the three exchanges on Monday, with Chicago SRW up 6 to 11 1/4 cents and open interest down 8,983 contracts. The decline in open interest, including a 27,891-contract drop in May, points to position unwinding alongside the price advance. The move is supportive for grains but is more of a commodity-futures and positioning story than a broad market catalyst.
Wheat futures posted double-digit gains across the three exchanges on Monday, with Chicago SRW up 6 to 11 1/4 cents and open interest down 8,983 contracts. The decline in open interest, including a 27,891-contract drop in May, points to position unwinding alongside the price advance. The move is supportive for grains but is more of a commodity-futures and positioning story than a broad market catalyst.
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mildly positive
Sentiment Score
0.35
