Funds have been short covering, with 13,000 corn shorts and 7,000 bean shorts covered in the latest Commitment to Traders report. Despite this, funds still hold significant short positions in both markets, indicating a slow pace of short covering.
As we approach the end of March, we may see an increase in fund short covering, especially with the acreage report looming. Additionally, news from Russia regarding export certifications for wheat caused a spike in overseas wheat markets, impacting our domestic wheat market.
