Chicago wheat prices ease, reports HGCA
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CBOT wheat futures ended the week nearly $1 lower.
Price pressure came from a reasonable winter wheat crop condition report and a higher estimate of Australian wheat production from the Australian Board of Agricultural and Resource Economics (ABARE).
CBOT wheat prices are around 9% down on early January levels.
- Australia raises wheat estimate
ABARE forecast Australian 2001 wheat production at 21.2m tonnes last week, still 15% down on last season but above earlier estimates of an 18-19m tonne crop.
The last USDA report included a 20.5m tonne Australian crop, upped from 19.5m tonnes.
- China buys Canadian
CHINA reportedly bought 0.5m tonnes of Canadian wheat last week. Reports suggest they look set to repeat a national cereal stock survey sooner than expected.
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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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