WEAT - Grain Futures Rally On Monday With Stormy Weather And Positive Weekly Inspection Data In Focus
Investment Thesis
Weather and slow planting will continue to support prices to the upside. But be aware of the U.S.-China trade war news. Look for prices to move higher overall in the days ahead.
Wheat leads all grains higher Monday after bullish weekly shipment report
Monday's export inspection report showed corn from the week ending May 16 at 821k metric tonnes. This came in less than last week's mark of 1,001k metric tonnes but in line with trader expectations of 600k-1,000k metric tonnes. Japan (177k) and Mexico (147k) were the main destinations.
Wheat reported 758k