U.S. Department of Agriculture data late last week extended the trend of outlooks forecasting tightening grain supplies and robust export demand, and the supply implications of those factors sent corn, soybean and wheat futures higher in overnight trading preceding Monday’s session. That trend has money managers and speculators extending their net-long positions in the market, signs they see even higher prices in the future. Those bullish bets are now at their highest levels in a month. Meanwhile, the crop risk in the Plains has shifted from freeze to fire this week, with high winds fueling fire risk in parts of the Plains ranging from South Dakota to Kansas as temperatures moderate. See more on these big stories to start the week.
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