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Wheat futures kept falling after USDA's Ag Outlook Forum projected all-wheat plantings down 800,000 acres. Weekly export sales were reported at 3.8 MMT, above the trade estimate range, but prices still weakened.
Reports said China offered to raise ag purchases by $30 billion a year.
A potential China purchase commitment is supportive, but the market largely ignored it while US wheat competed against cheaper supplies. Price direction stayed bearish for feed wheat, with the export data alone not enough to offset selling.
agriculture.comLouise Gartner23 feb 2019Tras 375 eventos bajista de comercio pasados, Trigo (SRW) se movió una mediana de -0,2 % en 5 sesiones (47% al alza; mitad central entre -2,0 % y +1,1 %), y -0,1 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
