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February 24, 2017
Technical selling and concerns over old crop supplies continued to push wheat prices downward, despite dry weather and lower than expected USDA forecast for wheat acres offering support. CBOT fell 10 cents to $4.31 per bushel, KCBT fell 2 cents to $4.54 per bushel, and MGEX fell 1 cent to $5.45 per bushel. Corn and soybean futures fell on large South American supplies coming into the market. Corn fell 4 cents to $3.64 per bushel and soybeans fell 18 cents to $10.14 per bushel.
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