CBOT Wheat are up-limit for the 6th consecutive day today. The price today reached $13.49.
Although the price has closed up limit for 6 straight days, there were opportunities to exit shorts on 4 of the last 6 days. The last two days, however, have been lock limit on both days (at $12.09 on Friday, and $12.94 today (the daily limit is $0.85 today). Since February 25 low, the price is up 50.51%.
Meanwhile CBOT corn futures today are down on the day after reaching a new cycle high at $7.82 on Friday. The current price is at $7.50 down $0.04 on the day (settled at $7.54 on Friday). The price of corn futures are up 14.4% from the swing low on February 25.
