Price Report - April 22, 2016
Wheat futures closed higher this week after a short-covering rally pushed all three wheat futures higher with CBOT wheat reaching a 5-month high. Profit-taking and bearish fundamentals pared gains on Thursday and Friday. Beneficial rain fell on dry winter wheat growing areas providing additional pressure. CBOT May wheat added 7 cents to $4.67/bu, KCBT rose 4 cents to $4.62/bu and MGEX climbed 3 cents to $5.25/bu. CBOT May corn fell 7 cents to $3.72/bu and CBOT May soybeans jumped 31 cents to $9.87/bu.