Grains
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Wheat, corn, soybeans all get pounded as rain moves into midwest
(19 Mar 2018) KC hard red winter wheat futures were down about 5%—to six-week lows—as a major front pushed showers into the dry Plains region. Soybean futures also fell as weekend rains soaked dry areas of Argentina's soy belt, although a lot of the damage from drought-like conditions has already been done. Midwestern rains also put downward pressure on the price of corn, with May futures falling to $3.75 per bushel on Monday. We own DBC, the PowerShares DB Commodity Tracking ETF in the Penn Dynamic Growth Strategy.
(19 Mar 2018) KC hard red winter wheat futures were down about 5%—to six-week lows—as a major front pushed showers into the dry Plains region. Soybean futures also fell as weekend rains soaked dry areas of Argentina's soy belt, although a lot of the damage from drought-like conditions has already been done. Midwestern rains also put downward pressure on the price of corn, with May futures falling to $3.75 per bushel on Monday. We own DBC, the PowerShares DB Commodity Tracking ETF in the Penn Dynamic Growth Strategy.