Chicago wheat loses up to $2.60 – HGCA
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CHICAGO Board of Trade wheat futures lost between $1.80 and $2.60 in value from last week with March wheat trading at $95.25/t.
Little export news left prices lower, despite Jordans purchase of 100,000 tonnes of US hard red winter wheat last week.
- Australia raises wheat estimate
THE IGCs latest report, released Friday, raised world wheat stocks to 104m tonnes, 2m tonnes higher from its January figure.
The rise is mainly due to higher world production at 580m tonnes (584m last year) following increased output in both Argentina and Australia.
Wheat stocks for the five major exporters was put higher from last months 45.9m tonnes to 47.8m. Coarse grain stocks were also put 2m tonnes higher to 141m, with US feed grain stocks close to their highest level since 1992/93.
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Taken from HGCA weekly MI Bulletin To contact the HGCA phone 020 7520 3972 Click here to visit the Home-Grown Cereals Authority |
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