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CBOT wheat may be ripe for harvest: Hansen
After hitting a 10-year low on August 30, the market has spent the past five weeks consolidating around $4/bushel, says Ole Hansen, head of commodity strategy at Saxo Bank.
CBOT wheat dropped 30% from June to August as the outlook for the 2016-17 harvest continued to improve.
Hedge funds held a near-record short position of 131,000 lots in CBOT during the week of September 27, somewhat bigger than the two-year average net-short of 56,000 lots.
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Tags: bushel, cbot, commodities, commodity, hedge funds, ole hansen, saxo, saxo bank, saxo bank saxo tv, saxo tv, saxo tv trading floor, saxo tv tradingfloor.com, saxotrader, saxotradergo, saxotv, tradingfloor.com, wheat
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